Meeting between Trump & Xi Pinging went well
Posted: Sat Jun 29, 2019 9:27 am
Trump Relents on Huawei in China Truce, Reviving Stalled Talks
Shawn Donnan and Miao Han, Bloomberg•June 29, 2019
President Donald Trump said he eased restrictions on China’s most prominent technology company as part of a trade truce with Beijing, removing an immediate threat looming over the global economy even as a lasting peace remains elusive.
Trump said Chinese President Xi Jinping had promised to buy “tremendous” amounts of U.S. agricultural products in exchange. “We’re going to give them a list of things we’d like them to buy,” Trump said at a news conference following the Group of 20 summit in Osaka, Japan.
But Chinese official media reports said only that the U.S. president hopes China will import more American goods as part of the truce.
After Trump and Xi met at the G-20 on Saturday, the two countries plan to restart trade talks that broke down last month. Trump told reporters he wouldn’t put additional tariffs on China for the “time being,” and that he’ll allow U.S. companies to supply Huawei Technologies Co. The Commerce Department last month blacklisted the company for national security reasons.
The Trump administration has been lobbying allies around the world not to buy Huawei equipment, which the U.S. says could be used for Chinese espionage. The company has denied the allegation. China has said it wanted Huawei removed from Commerce’s blacklist as soon as possible and has accused the U.S. of unfairly using state power to harass a private company.
Read more: https://finance.yahoo.com/news/trump-xi ... 44657.html
The return to the negotiating table ends a six-week stalemate that has unnerved companies and investors, and at least temporarily reduces fears that the world’s two largest economies are headed into a new cold war. Still, it’s unclear whether they can overcome differences that led to the collapse of a previous truce reached at the G-20 in November.
Shawn Donnan and Miao Han, Bloomberg•June 29, 2019
President Donald Trump said he eased restrictions on China’s most prominent technology company as part of a trade truce with Beijing, removing an immediate threat looming over the global economy even as a lasting peace remains elusive.
Trump said Chinese President Xi Jinping had promised to buy “tremendous” amounts of U.S. agricultural products in exchange. “We’re going to give them a list of things we’d like them to buy,” Trump said at a news conference following the Group of 20 summit in Osaka, Japan.
But Chinese official media reports said only that the U.S. president hopes China will import more American goods as part of the truce.
After Trump and Xi met at the G-20 on Saturday, the two countries plan to restart trade talks that broke down last month. Trump told reporters he wouldn’t put additional tariffs on China for the “time being,” and that he’ll allow U.S. companies to supply Huawei Technologies Co. The Commerce Department last month blacklisted the company for national security reasons.
The Trump administration has been lobbying allies around the world not to buy Huawei equipment, which the U.S. says could be used for Chinese espionage. The company has denied the allegation. China has said it wanted Huawei removed from Commerce’s blacklist as soon as possible and has accused the U.S. of unfairly using state power to harass a private company.
Read more: https://finance.yahoo.com/news/trump-xi ... 44657.html
The return to the negotiating table ends a six-week stalemate that has unnerved companies and investors, and at least temporarily reduces fears that the world’s two largest economies are headed into a new cold war. Still, it’s unclear whether they can overcome differences that led to the collapse of a previous truce reached at the G-20 in November.