Trump Celebrates As Trade Tensions Appear To Pause With China

Saagar Enjeti | White House Correspondent

President Donald Trump celebrated his recent agreement with Chinese President Xi Jinping to put U.S. tariffs on hold in exchange for trade concessions, in a series of Sunday and Monday tweets.

Trump struck the agreement with Xi at a dinner in Buenos Aires, Argentina during the annual G20 summit in which they agreed to forestall planned U.S. tariffs on hundreds of billions of dollars in Chinese goods.

File photo taken in November 2017 shows U.S. President Donald Trump (L) and Chinese President Xi Jinping at their joint press conference at the Great Hall of the People in Beijing. (Photo by Kyodo News via Getty Images)

U.S. President Donald Trump (L) and Chinese President Xi Jinping at their joint press conference at the Great Hall of the People in Beijing. (Photo by Kyodo News via Getty Images)

“China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately,” White House press secretary Sarah Huckabee Sanders said after the dinner.

BEIJING, CHINA - NOVEMBER 9: Chinese President Xi Jinping and U.S. President Donald Trump attend a welcoming ceremony November 9, 2017 in Beijing, China. Trump is on a 10-day trip to Asia. (Photo by Thomas Peter-Pool/Getty Images)

Chinese President Xi Jinping and U.S. President Donald Trump attend a welcoming ceremony November 9, 2017 in Beijing, China. Trump is on a 10-day trip to Asia. (Photo by Thomas Peter-Pool/Getty Images)

The White House also emphasized that Xi agreed “to designate Fentanyl as a Controlled Substance, meaning that people selling Fentanyl to the United States will be subject to China’s maximum penalty under the law.” The Chinese classification of the deadly chemical is expected to mitigate some U.S. deaths from the opioid crisis.

Sanders continued in her statement that “President Trump and President Xi have agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture. Both parties agree that they will endeavor to have this transaction completed within the next 90 days,” adding however that “if at the end of this period of time, the parties are unable to reach an agreement, the 10% tariffs will be raised to 25%.”

Tags : china donald trump fentanyl tariffs xi jinping
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