China and US hail trade truce but key obstacles remain
White House to delay planned increase of US tariffs on Chinese goods, while China pledges to take in more US imports
Buenos Aires — US President Donald Trump and Chinese President Xi Jinping both got something out of hitting pause on a trade war that threatens both of their economies, but analysts said that the tenuous truce does little to deal with the core sticking points of their economic rivalry. The White House said it will postpone a planned increase of US tariffs on Chinese goods for 90 days, while China pledged to take in more US imports. The steps temporarily pause an escalating confrontation between the world’s two largest economies that has rattled world markets. Trump launched the bitter row earlier in 2018 by implementing tariffs on billions of dollars in goods from China, which he accuses of market barriers and predatory practices that Washington says make fair trade impossible. The tariffs prompted tit-for-tat responses from Beijing.
After months of sabre-rattling, however, Trump praised an “amazing and productive” meeting with Xi at the Group of 20 on Saturday, and Chinese st...