China says Trump, Xi reach trade truce
U.S. President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 Summit in Osaka, Japan, June 29. Reuters
U.S. President Donald Trump and Chinese President Xi Jinping have agreed to a new ceasefire in their yearlong trade war, according to Xinhua, the Chinese state-run news agency.
The outlet reported Saturday that the leaders agreed that stalled trade talks would resume and the U.S. would hold off on threatened additional tariffs on Chinese goods.
The two leaders had sought to de-escalate the prolonged trade war between the economic powerhouses despite doubts about their willingness to compromise on long term solutions.
The apparent truce marks a pattern for talks between Trump and Xi, who have professed their friendship with each other and hit the pause button on protectionist measures after their conversations, only to see negotiations later break down over contentious details. (AP)