Trump Hails ‘Amazing’ Meeting with China’s Xi but No Formal Trade Deal Agreed

In a closely watched meeting at the G20 summit in Osaka, U.S. President Donald Trump and Chinese President Xi Jinping called a temporary truce in their escalating trade war. Though Trump praised the talks as “amazing,” no formal agreement was reached, leaving key economic questions unresolved.

Truce Achieved, But No Major Breakthrough

The 90-minute discussion resulted in:
– A halt to new U.S. tariffs on $300 billion of Chinese goods.
– China’s pledge to boost purchases of U.S. farm products.
– A surprise easing of Huawei restrictions, allowing limited U.S. sales.

Trump called the meeting “better than expected” but admitted a full deal would take time. “We’re not quite ready yet,” he said.

Why No Formal US-China Trade Deal?

Persistent sticking points include:
– U.S. demands for intellectual property reforms and an end to forced tech transfers.
– China’s resistance to U.S. pressure on state subsidies and market access.

Experts say the Osaka meeting was a ceasefire, not a resolution. “Fundamental issues remain,” noted IHS Markit’s Rajiv Biswas.

Market Reactions and Global Impact

Stocks rose on the news, but economists warn of lingering risks:
– Asian markets and the Dow Jones gained initially.
– India could see trade benefits but faces global growth risks.

What’s Next for US-China Trade Talks?

Negotiations will resume, but without a set deadline. Trump hinted at a possible 2020 deal, but analysts remain skeptical given past delays.

For now, the meeting buys time—but lasting progress is uncertain.