Economics
Trump, Xi Agree to Temporary Truce in Bid to Contain Trade War
- Leaders’ dinner at G-20 yields 90-day pause in tariff hikes
- Investors eager for break in tension between U.S. and China
This article is for subscribers only.
U.S. President Donald Trump and Chinese President Xi Jinping agreed to keep their trade war from escalating with a promise to halt the imposition of new tariffs for 90 days as the world’s two largest economies negotiate a lasting agreement.
The truce between the U.S. and China emerged after a highly anticipated dinner Saturday between Trump and Xi on the sidelines of the Group of 20 summit in Argentina. The leaders agreed to pause the introduction of new tariffs and intensify their trade talks, Chinese Foreign Minister Wang Yi told reporters hours later in Buenos Aires.