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Trump Agrees to 90 day Tariff Pause with China

President Trump and Chinese President Xi Jinping announced Saturday evening a 90-day pause on new tariff actions as the two countries attempt to finalize an agreement on intellectual property, technology theft, and non-tariff trade barriers.

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The White House announced the agreement in a statement following Trump and Xi’s working dinner in Argentina as part of the Group of 20 (G-20) summit. “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,” the White House said in a statement.

The White House also said in a statement- “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,” the statement continued, adding that “China has agreed to start purchasing agricultural product from our farmers immediately.”

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