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OSAKA, Japan—President Donald Trump said June 29 that he and Chinese leader Xi Jinping agreed to resume trade talks, adding that he would hold off on additional tariffs, and also ease restrictions on Chinese tech company Huawei.
Trump said had an “excellent” meeting with Xi on the sidelines of the G-20 Summit in Osaka, Japan.
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“Basically, we’ve agreed today that we’re going to continue the negotiation, which I ended a while back,” Trump said during a press conference at the conclusion of the summit.
Trump also said he agreed not to impose further tariffs on $325 billion of Chinese imports while the negotiations were ongoing.
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However, tariffs implemented so far would not be lifted, he said. The United States currently has a 25 percent tariff on $250 billion worth of Chinese goods.
Prior to the meeting, Trump threatened to impose tariffs on roughly $300 billion of Chinese goods, effectively all the remaining Chinese imports to the United States, if the talks did not yield progress.
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In addition, the president announced that U.S. companies will be allowed to sell products to Huawei. In May, the Trump administration added the Chinese tech giant to the U.S. Commerce Department’s “entity list,” effectively banning the company from doing business with U.S. suppliers, on national security grounds.
“U.S. companies can sell their equipment to Huawei,” Trump said. “I’m talking about equipment where there is no great national emergency problem with it.”
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He said the Commerce Department would consider in the next few days whether Huawei will be removed from its “entity list.”
Trump noted that he did not discuss the matter of Huawei chief financial officer Meng Wanzhou’s extradition from Canada to the United States. Meng, who is indicted in the United States on charges relating to violating U.S. sanctions against Iran, is currently fighting extradition in Vancouver.
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The talks between the two leaders marked...
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