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G20 SUMMIT: Again, US, China reach truce on trade war, but lasting peace vague

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President Donald Trump and China’s Xi Jinping agreed to another truce in their trade war on Saturday, removing an immediate threat looming over the global economy even as a lasting peace truce remains vague.

This was made during the annual summit of the Group of 20 nations which has entered its second and final day in Osaka, Japan.

The two sides have agreed to restart trade negotiations that broke down last month, Aljazeera reported, adding that the U.S. agreed to put no new tariffs on Chinese goods.

Read also: EUROPE: Record heat wave hits tourists, schools, hospitals in France

Trump said the U.S. would release a statement later on Saturday.

President Trump also said he and Turkish President Erdogan were trying to find solutions to Turkey’s purchase of Russian made S-400 defence missiles, due to be delivered next month.

The G20 is an international leaders’ forum consisting of 19 countries and the European Union.

While the grouping represents more than 80 percent of the world’s economic output and two-thirds of its people, its primary aim is to promote international financial stability.

 

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