Xi, Trump agree to continue trade talks, cease new tariffs

Chinese State Councilor and Foreign Minister Wang Yi (C) speaks at a press briefing on the meeting between Chinese President Xi Jinping and his U.S. counterpart Donald Trump that was concluded earlier in the day in Buenos Aires, Argentina, Dec. 1, 2018. (Xinhua/Xie Huanchi)

BUENOS AIRES, Dec. 1 (Xinhua) -- Chinese President Xi Jinping and his U.S. counterpart, Donald Trump, agreed here Saturday to continue the trade talks between the two countries and stop imposing new tariffs, said Chinese State Councilor and Foreign Minister Wang Yi.

Wang made the remarks at a briefing on the closely-watched Xi-Trump meeting concluded earlier in the day, after the closing of the G20 summit in the Argentine capital city.

During their two-and-half hour dinner meeting, the two leaders had constructive and positive discussions on the economic and trade issues.

China will import more marketable products from the United States in efforts to gradually ease imbalances in two-way trade, said Wang.

The two sides also agreed to open market to each other, said Wang, adding that China will work to gradually resolve U.S. legitimate concerns in the process of further opening-up.

Teams of both sides will follow the guidance of the principled consensus reached between the two leaders, and step up negotiations toward the cancellation of all tariffs imposed this year so as to reach a specific mutually-beneficial agreement at an early date.

The consensus reached at the meeting is of great significance, which not only effectively stopped further escalation of trade tensions, but also opened up new prospects for win-win cooperation between the two countries, said Wang.

The consensus will not only benefit the development of the two countries and the welfare of the two peoples, but also be conducive to the global economy's stable growth, he said.