Trump, Xi seal trade war truce

  1. The United States and China has agreed to restart trade talks after US has decided to hold off new tariffs on Chinese exports.
  2. The truce offered relief from a nearly year-long trade standoff in which both the countries have slapped tariffs on each other’s imports which had disrupted the global supply lines and slowed down the global economic growth.
  3. On Huawei issue,US President has said that US companies could sell equipment in cases where there is no national security problem with the firm.
  4. The United States and China were discussing a trade deal to end the trade war.However,the latest round of US-Chinese trade negotiations had ended without a deal.
  5. The US has said that China’s trade surplus with the US is the result of unfair practices including state support for domestic companiesIt has also accused China of stealing intellectual property from US firms.
  6. In return,China has asked the US to remove all the trade sanctions which it had imposed on China since 2018.

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