The US has imposed punitive tariffs on Chinese goods worth $250 billion per year. In retaliation, China imposed tariffs on $110 billion of American goods.
A standstill agreement reached between Trump and Xi on the margins of the G20 summit in Buenos Aires in November 30 and December 1 deferred the imposition of tit-for-tat tariffs by the two countries till March 1 to allow for negotiations.
Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be… https://t.co/CwXACOQMkC— Donald J. Trump (@realDonaldTrump) 1546099382000
"Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!" Trump tweeted.
After his conversation with the US president, China's President Xi Jinping said that he hopes to push forward a Sino-US relationship that is coordinated, cooperative and stable, Chinese state media reported.
Xi said teams from both countries have been actively working to implement the recently reached consensus between China and the United States, according to state-run Xinhua news agency.