US-China Summit Signals Possible Extension of Trade War Truce

US President Donald Trump and Chinese President Xi Jinping held a summit on the 14th at the Great Hall of the People in Beijing to discuss trade cooperation and management of bilateral tensions. Trump said US companies expect to expand trade and commercial cooperation with China, while Xi said there are no winners in a trade war between the two countries. The meeting suggested that the so-called trade war truce, including paused tariff measures and rare earth export controls agreed at the late-October Busan summit last year, may remain in place. The US faces political pressure ahead of the November midterm elections amid the prolonged Iran war, while China is concerned about weak domestic demand and the impact of high oil prices. Both sides appeared to seek avoiding a worsening trade conflict. Source: rss.donga.com