Saturday, June 29, 2019 5:23:22 PM
China agreed to make unspecified new purchases of U.S. farm products and return to the negotiating table. No deadline was set for progress on a deal, and the world's two largest economies remain at odds over significant parts of an agreement.
The last major round of talks collapsed in May.
Financial markets, which have been rattled by the nearly year-long trade war, are likely to cheer the truce. Washington and Beijing have slapped tariffs on billions of dollars of each other's imports, threatening to put the brakes on an already slowing global economy. Those tariffs remain in place while negotiations resume.
"We're right back on track," Trump told reporters after an 80-minute meeting with Chinese President Xi Jinping at a summit of leaders of the Group of 20 (G20) major economies in Osaka, Japan.
"We're holding back on tariffs and they're going to buy farm products," Trump said, without giving details about the purchases.
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