The world’s two largest economies are in the midst of a bitter trade war, which has seen them level increasingly severe tariffs on each other’s imports.
CHINA WARNS OF LONG ROAD AHEAD FOR DEAL WITH US AFTER ICE-BREAKING TALKS
In a sign of significant progress in relations on Saturday, Chinese President Xi Jinping and Donald Trump, on the sidelines of the G20 summit in Osaka, agreed to a ceasefire and a return to talks.
However, the official China Daily, an English-language daily often used by Beijing to put its message out to the rest of the world, warned while there was now a greater likelihood of reaching an agreement, there’s no guarantee there would be one.
“Even though Washington agreed to postpone levying additional tariffs on Chinese goods to make way for negotiations, and Trump even hinted at putting off decisions on Huawei until the end of negotiations, things are still very much up in the air,” it said in an editorial late Saturday. “Agreement on 90 percent of the issues has proved not to be enough, and with the remaining 10 percent where their fundamental differences reside, it is not going to be easy to reach a 100-percent consensus, since at this point, they remain widely apart even on the conceptual level.”
Trump also offered an olive branch to Xi on Huawei Technologies Co, the world’s biggest telecom network equipment maker. The Trump administration has said the Chinese firm poses a national security risk given its close ties to China’s government, and has lobbied US allies to keep Huawei out of next-generation 5G telecommunications infrastructure.
The Chinese government’s top diplomat, State Councillor Wang Yi, in a lengthy statement about G20 released by the Foreign Ministry following the delegation’s return to Beijing, said the Xi-Trump meeting had sent a “positive signal” to the world.
Though problems between the two countries remain, China is confident as long as they both follow the consensus reached by their leaders they can resolve their problems on the basis of mutual respect, Wang said in the statement released late Saturday.
