China, US agree no new tariffs 'after Jan 1': Chinese media

BUENOS AIRES: The United States and China agreed on Saturday (Dec 1) in a long-anticipated summit to hold off on new tariffs after Jan 1, Chinese state media said following a trade war that stretched for months.

The China Daily and Chinese international broadcaster CGTN both said President Donald Trump and his counterpart Xi Jinping agreed to halt tariffs “after Jan 1” – when Washington has been set to impose US$200 billion in new tariffs.

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The White House did not immediately comment on the outcome of the meeting on the sidelines of the G20 summit in Buenos Aires, but senior Trump adviser Larry Kudlow said that it went “very well.”

With the United States and China locked in an economic dispute that has unnerved global financial markets and weighed on the world economy, Trump and Xi sat down with their aides for a working dinner at the conclusion of a two-day gathering of world leaders in Buenos Aires.

Trump told Xi at the start of the meeting he hoped they would achieve “something great” on trade for both countries. The leaders finished their talks after about 2-1/2 hours and Trump departed for his scheduled flight back to Washington.

While neither side issued any immediate statements on the outcome, White House chief economist Larry Kudlow told reporters as he boarded Air Force One that the talks went “very well.” He offered no specifics.

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The editor of a major Chinese state-run newspaper also said the talks went well.

“Based on information I received, talks between Xi and Trump went well and consensus was reached,” Hu Xijin, the editor of the Global Times, published by the ruling Communist Party’s official People’s Daily, wrote on Twitter, without giving details.

The closely watched encounter came shortly after the Group of 20 industrialized nations backed an overhaul of the global body that regulates international trade disputes, marking a victory for Trump, a sharp critic of the organisation.


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