Trump says China had agreed to reduce tariffs on USA cars

Trump wants to kill electric car development

On Friday Mr Trump briefly met Russian President Vladimir Putin on the sidelines of the G20, a Russian official told Reuters.

- US President Donald Trump and his Chinese counterpart Xi Jinping had the future of their trade dispute - and broader rivalry between the world's two top economies - on the menu at a high-stakes dinner Saturday.

The two heads of state had an in-depth exchange of views on China-U.S. relations and worldwide issues of common concern in a friendly and candid atmosphere at a working dinner after the conclusion of the 13th summit of the Group of 20 in Argentina.

Flames of bromance were stoked at the Argentina G20 summit, with President Trump boasting of a newfound friendship with Chinese presidentt Xi Jinping.

Xi appears to have offered up non-trade measures to build goodwill in the relationship at a time of multiple converging tensions, from the South China Sea to Taiwan.

Trump said that he agrees with Xi on his evaluation of U.S.

Both sides gained from hitting the pause button, with Trump securing a Chinese pledge to import more United States goods and Xi staving off the further pressure that higher tariffs would place on his country's slowing economy.

China is "the largest source of illicit fentanyl and fentanyl-like substances in the United States", according to a US commission established by Congress to review the national security implications of relations between the two countries. "This is the first time they've responded on very, very specific issues".

As Trump economic advisor Larry Kudlow said ahead of the dinner: "If things don't work out in this US-China summit meeting, he will invoke another 267 some odd billion dollars in tariffs".

Those are "central to Xi's core agenda of making China an innovation superpower", Michael Hirson, Jeffrey Wright and Paul Triolo of Eurasia Group said in a report.

Washington and Beijing said they will try to achieve a permanent deal within the next 90 days, however the US still has significant leverage, stating that if a formal deal can't be reached then it will hike tariffs from 10 percent to 25 percent, which could roil global stock markets, stagnate global economic growth, dampen oil demand growth and possibly lead to a recession across the globe, particularly in emerging economies. However, if the negotiations fail to bear fruit in the next 90 days, tariffs would be raised to 25 percent.

Trump, at his political rallies and news conferences, often praises the increase in USA military spending during his almost two years in the White House.

The two leaders also exchanged views on the Korean Peninsula situation and other major worldwide and regional issues.

"The meeting was very successful and produced important consensus". But they say the deal must do more to protect US workers from low-wage Mexican competition.

Trump, who in recent months has harshly criticised China and accused it of meddling in United States elections, in the statement called his meeting with Xi "amazing and productive". "It is my great honor to be working with President Xi". The White House said intellectual property rights was one of the areas where China agreed to negotiate further, but it did not say whether it had been discussed at the meeting.

Political analysts pointed out that Trump's willingness to start trade talks with China could have resulted from the domestic political pressure he faced, especially in agriculture-dependent states such as Iowa. "As that picture is getting bigger, we can accept those differences while acknowledging them peacefully, and be more active and open-minded in solving problems through interaction".

"I hope they understand that", he said.

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