This archive report was first published on 29 June 2019.
On June 29, 2019, US President Donald Trump and Chinese President Xi Jinping reached an agreement to resume trade talks at the G20 summit in Japan, marking a significant easing of a long-standing trade dispute that has fueled a global economic slowdown.
As part of the agreement, Mr. Trump announced that he would allow US companies to continue selling to Chinese tech giant Huawei, a move seen as a significant concession to Beijing.
However, the agreement does not bring an end to the trade war, as tariffs on hundreds of billions of dollars worth of goods remain in place, and the two sides still have much to agree on, including Beijing's refusal to budge on issues of principle.
Washington wants Beijing to fundamentally change the way China's economy has grown over the last four decades, including getting rid of subsidies to state-owned companies, opening up the domestic market, and holding China to account if it fails to deliver on any of these commitments.
Speaking after his meeting with Mr. Xi, the US president said negotiations were 'back on track' and that the two sides would discuss the specific details of the agreement.
China's official state news agency Xinhua quoted Mr. Xi as saying that China and the US have 'highly integrated interests and extensive co-operation areas' and should not fall into 'so-called traps of conflict and confrontation.'
