US, China agree to halt new tariffs for 90 days: White House

Saudi prince in Argentina as G20 summit tensions brew

The important meeting between President Donald Trump and President Xi Jinping regarding the ongoing trade war took place on Saturday over dinner.

The press statement said Trump would not follow through his threat to raise tariffs on Chinese goods from 10% to 25% in the new year, which he had described as a reprisal for a long history of unfair Chinese trade practices.

"China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries", a White House statement said.

Xi agreed to designate the drug fentanyl as a controlled substance, the White House said. "If at the end of this period of time the parties are unable to reach an agreement, the 10% tariffs will be raised to 25%", Sanders said.

"The two presidents agreed that the two sides can and must get bilateral relations right", Wang Yi, China's lead diplomat, told reporters in Buenos Aires.

Before the meeting, the US President was optimistic. "Discussion on economic and trade issues was very positive and constructive".

Earlier on Saturday, the leaders of all the world's top economies called for reforms to the crisis-stricken World Trade Organization in a final statement from their summit.

Meanwhile, the United States stood alone as the 19 other countries again pledged to implement the Paris accord to fight climate change.

Trump told Xi at the start of the meeting he hoped they would achieve "something great" on trade for both countries.

China specialist at Princeton University Aaron Friedberg said: "Both men have cast themselves as "maximum leaders", strong men defending the interests and honour of their nations".

"The relationship that I have with President Xi, I think that's going to be a very primary reason we'll probably ending up getting something good for China and good for the United States, so we very much appreciate it". China responded by imposing its own round of tariffs. "He is always well prepared and rarely spontaneous".

The editor of a major Chinese state-run newspaper also said the talks went well.

Hailing the new achievements in bilateral cooperation in various fields this year, Xi said China and Russian Federation will hold grand and colorful activities to celebrate the 70th anniversary of their diplomatic relations next year and strive for more visible results in bilateral practical cooperation.

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