(Reuters Breakingviews) - Donald Trump threw another ceasefire into the trade-wa...
U.S. President Donald Trump shakes hands with China's President Xi Jinping before starting their bilateral meeting during the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque
The two sides are “right back on track,” Trump said on Saturday after an 80-minute meeting with Chinese President Xi Jinping on the sidelines of the G20 summit in Japan. The new tariffs he had been threatening to levy on about $300 billion of Chinese exports are being put on hold for now, while the People’s Republic will buy an unspecified amount of additional American agricultural products. Trump also added that U.S.
The stakes were much higher this time. Slapping additional tariffs on such a large quantity of goods would have been a serious economic blow for both countries. New forms of Chinese retaliation also awaited. In recent weeks, Beijing has not so subtly floated the possibility of targeting individual U.S. companies and weaponizing rare earths exports.
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