US President Donald Trump says trade talks with China have been successfully revived and new tariffs are on hold after his highly anticipated meeting with Chinese President Xi Jinping.
Trump told reporters he would hold off — for now — on imposing new tariffs that he’d threatened if an agreement couldn’t be reached, though said existing duties would remain.
“I promised that for at least the time being we’re not going to be lifting tariffs on China. We won’t be adding an additional tremendous amount — we have $350 billion left that could be tariffed, taxed — we’re not going to be doing that,” Trump told reporters at his closing G20 news conference in Japan.
Trump said the US would be working “where we left off” in trade talks with China.
“We had a great meeting and we will be continuing to negotiate,” Trump said.
For his part, Xi recalled the 1970s-era ping-pong diplomacy between the two countries, using the reference to illustrate how a “small ball played a big role” in establishing diplomatic ties between Beijing and Washington.
“One basic fact remains unchanged,” Xi said. “China and the United States both benefit from cooperation and lose in a confrontation. “