U.S., China agree to trade war truce

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Chinese President Xi Jinping and his US counterpart Donald Trump held a "highly successful meeting" here Saturday, reaching important consensus and agreeing not to impose new additional tariffs.

Trump has imposed import taxes on $250 billion in Chinese products - 25 percent on $50 billion worth and 10 percent on the other $200 billion.

The agreement, hashed out over steak in the Argentine capital Buenos Aires, lowers the temperature in a conflict that has spooked world markets.

In their first meeting since November 2017, the two presidents had a profound discussion that lasted for 2.5 hours, much longer than scheduled, Wang said.

Calling the extended meeting "friendly and candid", State Councilor and Foreign Minister Wang Yi said the two leaders had agreed to open their markets to each other and to step up negotiations toward elimination of all additional tariffs. Aboard Air Force One, the president told reporters that he would formally terminate the 24-year-old North American Free Trade Agreement in a political gamble created to force wavering lawmakers to back his replacement treaty dubbed the United States-Mexico-Canada Agreement, or USMCA. Trade Representative's press release and report on the Section 301 tariffs on IP.WTO dispute list.Campaign speech by Donald Trump from June 2016 detailing much of what has become his worldwide economic policyU.S. tariff lists: On $34 billion in imports (final) On $16 billion in imports (final) On $200 billion in imports (initial) Translation of all China's tariff lists (with links to the original Chinese ones) China's white paper making its case on trade.

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"It's an incredible deal".

China's efforts to tackle the abuse of fentanyl-like substances have won positive comments from across the globe and Beijing has made a decision to list all fentanyl-like substances and their precursors as controlled substances, Wang said.

As part of the deal, Xi agreed to deliver structural reforms within the next three months.

Indeed, the truce is only partial.

"We are encouraged to see Presidents Trump and Xi working together to reduce trade barriers between the U.S. and China", said the Consumer Technology Association, a United States trade group that opposes tariffs.

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Kirklees Council said: "Neither us nor the school condone violence in any form, and behaviour like this will not be tolerated". The boy, who previously suffering a broken arm, told ITV: "I woke up at night and just started crying about this problem".

Trump also has warned he could slap punitive duties on the remaining $267 billion in Chinese goods coming to the United States. And Saturday's truce also contained an ultimatum.

China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences with fresh talks aimed at reaching an agreement within 90 days. "USA also believes that China infringes intellectual property rights (IPR) regularly, forces foreign investors to transfer technology to China, and has yet to open up domestic Chinese markets as it had committed to as a condition to joining WTO in 2001", Narayan said, adding that the United States "now wants to force the issue by using tariffs as a weapon against China and negotiate a better bilateral trade deal". Tough negotiations lie ahead, but Trump was upbeat.

He said under the deal China would buy a "tremendous amount of agricultural and other product" from the United States.

German Chancellor Angela Merkel, who was also attending the G20, spoke for many when she urged progress.

"It is hoped the agreement reached on Saturday will be implemented by the two sides and Chinese and American working teams will meet the expectations of their leaders, normalising trade relations between the countries", it said. But hawkish advisers like Peter Navarro and US Trade Representative Robert Lighthizer were also present.

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This was evident from their slogan, " Ayodhya nahi, karz maafi chahiye (We do not want Ayodhya, but a debt waiver)". The protest also saw participation of a number of women farmers who travelled from various parts of the country.

The organization "looks forward to working closely with the Trump administration to secure increased market access for our industry", Kester said in September, when Trump and Abe agreed to launch bilateral trade agreement talks. He has prided himself on building a good relationship with the Chinese leader, even though he acknowledges it may have trouble surviving the growing crisis.