The United States and China have agreed to resume trade negotiations to ease its long-standing economic dispute that has slowed the global economy.
The agreement came after talks between US President Donald Trump and Chinese President Xi Jinping on the sidelines of the G20 summit in Japan.
Trump commented on the talks that they were “excellent”.
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The US president has threatened to impose an additional $ 300 billion in customs duties on Chinese imports.
But after meeting with his Chinese counterpart in Osaka, Trump declined to confirm the non-application of the additional fees, referring to continued negotiations with Beijing at the moment.
With regard to the Huawei crisis, which was banned by the United States because of what it described as security concerns, Trump stressed the restoration of cooperation with it and the continued US companies in the sale of technology to them.
But Trump said the dispute would be dealt with the end of trade talks.
How did the US-China trade dispute escalate?
The United States and China, the world’s two largest economies, have been battling a destructive trade war since last year.
Trump accused China of stealing intellectual property and forcing US companies to exchange trade secrets for doing business in China.
In turn, China said the US demands for business reform were unreasonable.
The row escalated in the months leading up to the G20 summit, following the collapse of talks between the two countries in May.
How will the recent approach change the current situation?
After meeting with his Chinese counterpart at the summit, the US president said the negotiations “are back on track.”
Trump told reporters: “We had a very good meeting with Chinese President Shi, it was excellent, I would say excellent, and it was as good as it should have been.”
“We’ve discussed a lot of things and we’re back on track and we’ll see what happens.”
For its part, the Chinese Foreign Ministry said in a statement that the negotiators from both sides will discuss the specific details, without mentioning these details.
“China and the United States have complementary interests and broad cooperation areas and should not fall into the so-called traps of conflict and confrontation,” the official Xinhua news agency quoted the Chinese president as saying.