As part of the talks on Saturday night, Trump agreed not to increase existing tariffs on Chinese goods or impose any new ones for 90 days, while talks took place.
China and the United States would push ahead with negotiations over 90 days and China would implement the specific issues it agreed with the U.S. "as soon as possible", the statement said.
China's ambassador to the United States brushed off questions about the different accounts of the Trump-Xi meeting.
Steven Mnuchin, the Treasury secretary, said that China had agreed to buy US$1.2 trillion of American products, but he could not offer specifics.
China issued an upbeat but vague promise Wednesday to carry out a tariff cease-fire with Washington but gave no details that might dispel confusion about what Presidents Xi Jinping and Donald Trump agreed to in Argentina.
Pompeo's remarks "go contrary to the spirit of the consensus between our two leaders", foreign ministry spokesman Geng Shuang told reporters.
"I am not sure, you know, that the objective is a trade agreement".
We are confident in implementation [of the agreement].
Some retailers were also encouraged by the agreement, according to the National Retail Federation.
Instead, the two sides are to negotiate over U.S. complaints about China's trade practices, notably that it has used predatory tactics to try to achieve supremacy in technology. Ben Sasse, a Nebraska Republican and opponent of Trump's tariff policy, criticized the president's tweets on that basis.
Based on reciprocity, mutual benefit and mutual respect, the win-win cooperation between China and USA could be achieved through communication and negotiation instead of confrontation, Zhang concluded.
Aram... so President Trump is calling himself a "Tariff Man...."
One issue that could impact China's commitment will be Washington's ability to create a united front with its allies to counter Beijing's predatory trade practices.
The Tax Foundation, a conservative think tank, studied the $42 billion of tariffs already imposed by Trump, which include taxes on steel, aluminum, washing machines and the duties being charged on Chinese imports.
It took only two days for the sheen to wear-off Trump's boast China had bowed to his demands.
His Tuesday tweets said "The negotiations with China have already started", Trump adding that his White House team will be "seeing whether or not a REAL deal with China is actually possible".
"The market is trying to figure out, is there going to be a real deal at the end of 90 days or not", Mnuchin said at a Wall Street Journal event on Tuesday.
In return for the postponement in the higher US tariffs, the White House said China had agreed to step up its purchases of USA farm, energy and industrial goods. "China is supposed to start buying Agricultural product and more immediately".
U.S. liquefied natural gas was also absent from China's shopping list in October, following Beijing's move in September to impose a retaliatory 10 per cent tariff on USA supplies.
'People are still very concerned about the trade war, ' Dan Suzuki, portfolio strategist at Richard Bernstein Advisors told CNN. Even if the tariffs are lifted now, the U.S. crop is becoming less competitive in the Chinese market as the harvest season approaches in South America.