Xi has list of demands to settle US-China trade war

Xi has list of demands to settle US-China trade war

Before the talks, Mr Trump had threatened to extend existing tariffs to cover nearly all imports from China into the United States if the meeting brought no progress on wide-ranging U.S. demands for economic reforms.

US President Donald Trump said he will allow Huawei Technologies to buy products from US suppliers, in a concession to China after talks with the country's President Xi Jinping on Saturday (June 29).

"Trump added that Huawei is the last issue in trade talks, showing how tricky and complex it is to ban trading with Huawei is".

As far as resolving the overall issue of Huawei, which the USA government wants to bar from the country's planned 5G cellular telephone networks, "we agreed to leave that to the end" of trade negotiations between Washington and Beijing.

While Trump said relations with China were "right back on track", doubts persist about the two nations' willingness to compromise on a long-term solution.

Trump announced on Saturday that he was holding fire on his threat to add new duties to a further US$300 billion in imports from China, which has led to a public revolt by USA businesses making everything from video game consoles to tennis balls. "And I said that is okay". "I would say probably even better than expected, and the negotiations are continuing". The new tariffs he had been threatening to levy on about $300 billion of Chinese exports are being put on hold for now, while the People's Republic will buy an unspecified amount of additional American agricultural products.

He has said the new tariffs, which are paid by United States importers and usually passed onto consumers, might start at 10 per cent.

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This is a developing story.

Trump's move on Saturday to concede ground on Huawei adds to the evidence he'd rather cut deals than start wars. Xi is overseeing a decelerating economy and likely won't want to be engaged in a destructive trade war when China's ruling Communist Party meets in October.

In retaliation, China imposed tariffs on $110 billion in American goods, focusing on agricultural products in a direct and painful shot at Trump supporters in the U.S. farm belt. It had also prompted lobbying from USA companies like Intel Corp.and Alphabet Inc.'s Google, anxious about losing their sales to a major client. This would buy time for U.S. and Chinese officials to restart talks that stalled last month.

Mr Trump said at the G-20 press conference on Saturday he had removed the restrictions as a "personal favour" to Mr Xi.

China and the United States have highly integrated interests and extensive cooperation areas, and they should not fall into so-called traps of conflict and confrontation, Xi said. "I know you're totally open to it", explaining that negotiations for both countries have been working hard to achieve that. Slowly, they argue, Trump is raising the heat on China and ending decades of unnecessarily pliant behaviour by American presidents in the face of a rising rival.

Xi concluded by saying he was ready to share views on "the fundamental issues concerning the growth of China-U.S. relations" and advance the dialogue "based on coordination, cooperation, and stability". New forms of Chinese retaliation also awaited. The entire trade ban could become a thing of the past if the whole trade talk ends well. The leaders of the world's largest economies arrive in Osaka from Thursday for the fourteenth meeting of Group of Twenty (G20).

Ahead of the G20, Prime Minister Justin Trudeau met with the president in Washington, where Trump committed to doing "anything" to help Canada.

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