Trump scales back restrictions on Huawei as China trade talks get 'back on track'
President Trump on Saturday said that trade negotiations with China are "back on track" after he met with Chinese President Xi Jinping for 80 minutes in Osaka, Japan, during the G-20 summit.
Both sides said trade talks would resume, The Wall Street Journal reports. "We'll see what happens," Trumps said. "We had a really good meeting."
Trump agreed to delay new tariffs on $300 billion worth of Chinese goods and to scale back restrictions on Chinese tech giant Huawei, allowing U.S. firms to sell high-tech equipment to the company. In exchange, Trump said Beijing has agreed to buy large amounts of U.S. farm products.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
As for Huawei, Trump said his administration would hold meetings to discuss the company, which is on the so-called entity list, meaning U.S. companies cannot provide it with U.S.-origin technology without government approval. But Trump said his discussions with Xi revolved around equipment that doesn't involve "a great national-emergency problem."
Trump added that he is not "rushed" to find a solution to the "intricate" negotiations.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.
-
The Icelandic women’s strike 50 years onIn The Spotlight The nation is ‘still no paradise’ for women, say campaigners
-
Mall World: why are people dreaming about a shopping centre?Under The Radar Thousands of strangers are dreaming about the same thing and no one sure why
-
Why scientists are attempting nuclear fusionThe Explainer Harnessing the reaction that powers the stars could offer a potentially unlimited source of carbon-free energy, and the race is hotting up
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
