Trump says agreed US won’t raise tariffs, China will buy US farm goods

OSAKA (Reuters): US President Donald Trump said he and his Chinese counterpart Xi Jinping agreed on Saturday that the US would refrain from raising levies on Chinese imports for now while China would buy more US agricultural products.

“We’re holding back on tariffs and they’re going to buy farm products,” Trump told a news conference after a two-day summit of the Group of 20 in Osaka, Western Japan.

The day’s truce by the world’s two biggest economies offered some relief to gathered leaders of the big economies, as the year-long trade war has cost companies billions, snarled global manufacturing and supply chains and worried financial markets.