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Trump, Xi agree to restart trade talks, US says not to add new tariffs on Chinese exports

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eChinese President Xi Jinping and US President Donald Trump agreed to restart economic and trade consultations between the two countries on the basis of equality and mutual respect, according to China’s state news agency Xinhua.

The US side said it will not add new tariffs on Chinese exports and the two countries’ economic and trade negotiating teams will discuss specific issues.

The two leaders had a 80-minute meeting on the sideline of the G20 summit in the Japanese city of Osaka.

At the beginning of their meeting, Xi said that despite the great changes that have taken place in the international situation and China-U.S. relations during the past 40 years, “one basic fact remains unchanged: China and the United States both benefit from cooperation and lose in confrontation.”

“Cooperation and dialogue are better than friction and confrontation,” Xi told Trump.

Trump told reporters he had an excellent meeting with Xi and talks were “back on track”.

“We had a very good meeting with President Xi of China, excellent, I would say excellent, as good as it was going to be,” Trump said. “We discussed a lot of things and we’re right back on track and we’ll see what happens.”

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