At the end of the G-20 Foreign Ministers’ Meeting, the US President Donald Trump and Chinese President Xi Jinping held talks on a trade war between the two countries.
The leaders of United States and China negotiated about two and a half hours, after which the US President Donald Trump went to the airport for a scheduled flight to Washington.
None of the parties made any statements on the outcome of the negotiations, however, there are rumors that a full agreement was reached on all issues.
Somewhat later, the White House Press Office issued the following statement:
“United States President Donald J. Trump and Chinese President Xi Jinping have just completed what both sides called” a very successful meeting” among themselves. In the discussion on trade, Donald Trump agreed that he would leave duties on goods worth $200 billion at 10% and would not raise them to 25%, as planned from January 1, 2019.
Similarly, the US President Trump and President Xi Jinping agreed to begin negotiations immediately on the protection of intellectual property, cyber attacks and cyber thefts. Both sides agree that they will seek to resolve all the issues listed over the next three months. If after this period the parties fail to agree, 10% of the tariffs will be increased to 25%.
China, for its part, will agree to purchase an unrelated but very significant amount of agricultural, industrial and other products from the United States in order to reduce the imbalance in trade between our two countries. At the same time, China will start purchasing agricultural products from our farmers immediately.
Both sides also agreed that significant progress has been made with respect to North Korea. Now President Trump, along with the President Xi and Chairman Kim Jong-un, hope to see the Korean peninsula free of nuclear weapons. President Trump expressed his friendship and respect for Chairman Kim Jong Ynu.