BEIJING, June 27 — The United States and China have agreed to a tentative truce in their trade dispute ahead of a meeting between leaders of the two nations at the G20 summit this weekend, the South China Morning Post (SCMP) reported today, citing sources.
Details of the agreement, which would halt the next round of US tariffs on an additional US$300 billion (RM1.24 trillion) of Chinese goods, are being laid out in press releases and will be out as coordinated press releases and not a joint statement, the newspaper said.
Chinese President Xi Jinping’s meeting with US President Donald Trump is conditional upon Washington agreeing to such a tentative agreement, SCMP reported, citing one source with knowledge of the plans.
Trump is set to hold much-anticipated trade talks with Xi in Osaka at 11.30am (0230 GMT, 10.30am Malaysia Time) on Saturday, a White House spokesman told reporters yesterday.
Trump said yesterday a trade deal with Xi was possible this weekend but he is prepared to impose US tariffs on virtually all remaining Chinese imports if the two countries continue to disagree.
China and the United States have already imposed tariffs of up to 25 per cent on hundreds of billions of dollars of each other’s goods in a trade war that has lasted nearly a year.
Relations between Washington and Beijing have spiraled downward since talks collapsed in May, when the United States accused China of reneging on pledges to reform its economy. — Reuters