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.

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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.