Eli Ridder | Report

After a chaotic Group of 20 Summit in Argentina for U.S. President Donald Trump, he was able to claim a win on Saturday evening with a 90-day ceasefire in Washington’s destabilizing trade war with China.

Mr. Trump agreed to axe a planned tariff increase on $200 billion of Chinese products scheduled for Jan. 1, and agreed to continue talks during the ceasefire, news that will likely improve markets.

Mr. Trump and Chinese President Xi Jinping met for over two hours during the summit in Buenos Aires in a highly anticipated dinner meeting amid worries that trade skirmishes are hurting the global economy.

China’s Xinhua reported that the two sides had agreed that “no additional tariffs will be imposed after Jan. 1,” the day U.S. tariffs on $200 billion of Chinese goods are set to increase from 10 per cent to 25 per cent.

Trump before the dinner began told the press pool that the pair would “be discussing trade” and predicted that he and Mr. Xi “we’re going to end up doing something which is great for China and great for the United States.”

Xi followed up with a reference to the men’s “personal friendship” and responsibility for “world peace and prosperity”, according to translations at the meeting.


Image of the meeting from social media.

Advertisements

Written by Eli Ridder

Eli Ridder is a journalism student at the University of Guelph-Humber and a senior correspondent for multiple independent publications including, but not limited to, The Anon Journal, Berning Media Network and the Ribbon. Find out more at eliridder.ca

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.