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Trump: U.S. won't raise tariffs on China, talks are back on

Credit: Reuters Studio
Published on June 29, 2019 - Duration: 01:00s

Trump: U.S. won't raise tariffs on China, talks are back on

The United States and China agreed on Saturday to restart trade talks and that Washington would hold off on imposing new tariffs on Chinese exports, signaling a pause in the trade hostilities between the world's two largest economies.

Rough cut (no reporter narration).

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Trump: U.S. won't raise tariffs on China, talks are back on

The truce offered relief from a nearly year-long dispute in which the countries have slapped tariffs on billions of dollars of each other's imports, disrupting global supply lines, roiling markets and dragging on global economic growth.

"We agreed today that we will continue the negotiation... And we are going to continue the negotiation," U.S. President Donald Trump told reporters after an 80-minute meeting with Chinese President Xi Jinping on the sidelines of a summit of leaders of the Group of 20 (G20) major economies in Japan.

Trump said while he would not lift existing import tariffs, he would refrain from slapping new levies on an additional $300 billion worth of Chinese goods - which would have effectively extended tariffs to everything China exports to America.

Trump said China would buy more farm products but did not provide specifics.

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