United States, China agrees a truce attempt ahead of the G20 summit: SCMP

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PHOTO FILES: US and Chinese flags are displayed at the International Chamber of Commerce (AICC) stand during the Chinese International Trade in Services Trade in Beijing, China, May 28, 2019. REUTERS / Jason Lee / Photo File

(Reuters) – The United States and China have agreed a provisional truce in their trade dispute ahead of a meeting between the leaders of the two nations at the G20 summit this weekend, the South China Morning Post said, citing sources.

The details of the agreement, which will stop the next round of US tariffs on additional $ 300 billion of Chinese goods, will be presented in press releases and will be published as coordinated press releases and not in a joint statement, according to the newspaper.

The meeting of Chinese President Xi Jinping with US President Donald Trump is subordinated to Washington's acceptance of such a provisional agreement, he reported the SCMP, citing a source with knowledge of the plans .

Trump will hold highly anticipated trade talks with Xi in Osaka at 11:30 am (02:30 GMT) on Saturday, a White House spokesman told reporters.

Trump said Wednesday that a trade agreement with Xi was possible this weekend, but he is ready to impose US tariffs on virtually all remaining Chinese imports if the two countries continue to be unacceptable.

China and the United States have already imposed tariffs up to 25% on hundreds of billions of dollars of assets in one another in a trade war that has lasted almost a year.

Relations between Washington and Beijing have skyrocketed since the talks collapsed in May, when the US accused China of denying commitments to reform its economy.

Reporting of Aishwarya Nair in Bengaluru; assembly of Gopakumar Warrier

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