Trump said if the two countries cannot agree on a deal, the U.S. will proceed with "major Tariffs" against Chinese products. "Ultimately, I believe, we will be making a deal — either now or into the future," the president said.
Trump on Twitter: We are either going to have a REAL DEAL with China, or no deal at all - at which point we will be charging major Tariffs against Chinese product being shipped into the United States. Ultimately, I believe, we will be making a deal - either now or into the future....
At around the same time, China's Ministry of Commerce said in a statement on its website that the weekend meeting between Trump and Chinese President Xi Jinping was successful. The ministry also said the two countries will push ahead with negotiations within 90 days, and Beijing will work to address issues agreed upon as quickly as possible.
Trump and Xi met at the G-20 summit in Argentina over the weekend. There, the American president agreed to not raise tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent in January as he had previously threatened, according to a statement from the White House. But, if the two countries fail to reach a deal at the end of 90 days, the threatened tariffs will be implemented, the statement said.
Markets globally initially cheered the outcome of the meeting, but that optimism was short-lived. Several inconsistencies — in statements by Beijing and Washington, and within the White House — led many experts to believe that both sides would not be able to find a common ground in time and reignited worries that the tariff fight could slow down the global economy.