The US and China will resume negotiations on the settlement of the trade conflict

The agreement was reached during the meeting of Donald Trump and Xi Jinping on the sidelines of the G20 summit in Osaka. The US promised not to introduce new penalties against China.

The US and China will resume negotiations on the settlement of the trade conflict. US President Donald Trump announced it after a meeting with Chinese President Xi Jinping on the sidelines of the G20 summit in Japan on Saturday, June 29. The American President called the meeting with his Chinese counterpart, which lasted almost an hour and a half, “magnificent.”

Chinese News Agency “Xinhua” reported that the US promised not to introduce new penalties against China. The US and China have been waging a fierce trade war against each other for a year, which not only has a negative impact on the economies of both countries but also hinders global economic growth.

Before the talks in Osaka, Xi Jinping called on the parties to cooperate. “Cooperation and dialogue are better than tension and confrontation,” he said, recalling in this regard the so-called “ping-pong diplomacy” that led to the formalization of relations between Washington and Beijing. In 1971, table tennis players from the USA and China first came into contact with each other at the World Championships in Japanese Nagoya, 180 kilometers from Osaka. This was the impetus for the normalization of relations between the two states.

Donald Trump, commenting on the failure of trade negotiations with China two months ago, said: “We were very close to the goal, but then something happened and something went wrong. If we manage to conclude a fair trade agreement, it will be a historic event.”