Trump, Xi agree not to impose trade tariffs after January 1

  02 December 2018    Read: 1041
Trump, Xi agree not to impose trade tariffs after January 1

US President Donald Trump and Chinese leader Xi Jinping agreed Saturday that no new tit-for-tat tariffs will be imposed after January 1 as trade talks continue, Sputnik reported citing Chinese state media.

The CGTN television channel said the two leaders had made the arrangement at a meeting in Buenos Aires, which is hosting a Group of 20 summit of the most industrialized economies.

The annual summit was held in the Argentina capital and marked the first time the event is being held in South America, lasting from November 30 to December 1.

China and the United States are engaged in a major trade dispute which followed the announcement of the introduction of steel and aluminium import duties by US President Donald Trump in March. The tensions further heightened in late May when Washington announced that $50 billion worth of Chinese goods would be subject to 25 percent tariffs, which prompted a harsh retaliation from Beijing.

The Wall Street Journal reported on Thursday that on the eve of the G20 summit in Argentina the United States and China were mulling an agreement in which Washington would delay imposition of future tariffs in exchange for talks on a major overhaul of Chinese economic and trade practices.

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