December 3, 2018 — Meeting at the G20 Summit on Saturday, 1 December in Buenos Aires, Argentina, Chinese President Xi Jinping and U.S. President Donald Trump agreed to a détente in their trade war.
In an announcement after the meeting, the White House said Trump had agreed to postpone his plan to ramp up existing 10 percent tariffs on USD 200 billion (EUR 170 billion) of Chinese goods to a 25 percent rate on 1 January, 2019. That move is contingent upon China and the United States coming to terms on a broad collection of disagreements – including intellectual property protection and forced technology transfer and a widening trade deficit – that set the trade war in motion in January 2018.
“This was an amazing and productive meeting with unlimited possibilities for both the United States and China,” Trump said in a statement.