US, China declare 90-day halt to new tariffs, as trade negotiations get under way
The US president held high-stakes talks with his Chinese counterpart at the G20 summit
China and the United States have agreed to halt additional tariffs as both nations engage in new trade negotiations with the goal of reaching an agreement within 90 days, the White House said on Saturday after President Donald Trump and Chinese President Xi Jinping held high-stakes talks in Argentina. Trump agreed not to boost tariffs on $200bn of Chinese goods to 25% on January 1 as previously announced, while Beijing agreed to buy an unspecified but "very substantial" amount of agricultural, energy, industrial and other products, the White House said in a statement. China "is open to approving the previously unapproved" deal for US company Qualcomm Inc to acquire Netherlands-based NXP Semiconductors "should it again be presented." In July, Qualcomm — the world's biggest smartphone-chip maker — walked away from a $44bn deal to buy NXP Semiconductors after failing to secure Chinese regulatory approval, becoming a high-profile victim of the Sino-US trade dispute. Qualcomm and NXP did...
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