President Trump left the Group of 20 summit in Argentina with an agreement not to raise tariffs on Chinese goods in the next 90 days, the White House said. The deal amounts to a cease-fire in the series of escalating, tit-for-tat tariffs the U.S. and China have imposed on each other’s goods throughout the year.
Before Trump met his Chinese counterpart, Xi Jinping, the U.S. had been scheduled to increase tariffs on $200 billion of Chinese goods from 10 percent to 25 percent on Jan. 1. The agreement keeps those tariffs at 10 percent for at least the next 90 days while the countries negotiate further. The White House also says China has agreed to buy more American goods, although it did not specify how much.
Trump called Saturday night’s two-and-a-half-hour dinner meeting — an hour longer than scheduled — “amazing and productive.” China also agreed to label the opioid fentanyl a controlled substance, which the White House called “a wonderful humanitarian gesture.”
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