G20 summit: Trump and Xi agree to restart US-China trade talks

China's President Xi Jinping (R) shakes hands with US President Donald Trump before a bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. PHOTO | BRENDAN SMIALOWSKI | AFP

What you need to know:

  • US President Donald Trump and China's President Xi Jinping reached the agreement at the G20 summit in Japan.
  • Mr Trump also said he would allow US companies to continue to sell to the Chinese tech giant Huawei, in a move seen as a significant concession.
  • The resumption of talks and pressing the pause button on more tariffs will be seen in the short term as positive for markets and American businesses.
  • The truce signals a pause in hostilities between the world's largest economies, rather than a resolution of the year-long dispute which has caused market turbulence and dragged on global growth.

The US and China have agreed to resume trade talks, easing a long row that has fuelled a global economic slowdown.

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