"China has agreed to start purchasing agricultural product from our farmers immediately".
China said, according to the White house to buy more American goods, including agricultural products. China even supposedly agreed to bring its tariffs on USA cars more in line with its duties on automobile imports from other countries. Several bike industry leaders have said closing that loophole would help the industry and create more fair trade than tariffs.
United States President Donald Trump walked off, waving. Despite short-term optimism, however, the China-U.S. trade dispute is very complex and involves issues that are beyond trade, according to investment adviser Peter Creedon.
On the non-trade issues, Beijing was more open, announcing that China will tighten supervision of Fentanyl and review rules on the drug.
The two sides would "step up negotiations" toward full elimination of all additional tariffs, Wang said.
The two are trying to negotiate the end to a trade conflict that is rattling financial markets and threatening the world economy.
On Air Force One returning from Buenos Aires, the president also told reporters he would move to cancel NAFTA, the trade agreement with Mexico and Canada.
According to the agreement, the U.S. and China will not increase or introduce new tariffs for 90 days. Trump has also threatened to add tariffs on another $267 billion of Chinese imports.
Stopping China’s Fentanyl River
Trump's tweet came after China and the United States reached an agreement on Sunday not to impose extra tariffs on each other's imports from January 1.
A ceasefire is better than an escalating trade war as far as investors are concerned. The symbolism ahead of the Xi meeting was clear: The Trump administration has looked to find common cause with both nations in countering China's regional hegemony.
US Trade Representative Robert Lighthizer said last week that he was examining all available tools to raise US tariffs on Chinese vehicles to the 40 percent level that China was charging on US-made vehicles.
He suggested that the "incredible relationship" he and Xi had established would be "the very primary reason" they could make progress on trade.
He added that Xi has sought to control the Indo-Pacific region, where the USA previously had significance. Washington and Beijing have also increasingly been at odds over security in the Asia-Pacific region. The deadly synthetic opioid is responsible for tens of thousands of US drug deaths annually.
The White House statement also said that Xi is open to approving the U.S. chipmaker Qualcomm's purchase of Dutch semiconductor company NXP.
White House press secretary Sarah Sanders said both leaders had agreed to address several issues, including the need to protect so-called "intellectual property", a key issue for American businesses anxious about losing competitive technology.