Asia Expert: 'Trump 'Surrendered' Huawei Ban

Asia Expert: 'Trump 'Surrendered' Huawei Ban

Asia Expert: 'Trump 'Surrendered' Huawei Ban

Kim Hyesung has the details. Trump promised to hold off on his threat to slap new 25% tariffs on $300 billion in Chinese imports, and he agreed to lift some restrictions on Huawei, the Chinese technology giant at the centre of a dispute between the nations.

Trump said the talks with Xi went "probably even better than expected".

Last month the American tech powerhouse suspended Huawei's Android licence following the Trump administration's decision to place the firm on a trade blacklist.

However, Huawei remains on the Entity List, so it is still technically illegal for US firms to trade with the company. "As to whether or not we can make a deal, time will tell, but the relationship itself is really great", Trump said, adding that he and Xi continued to have "a very good friendship".

But Mr Trump has suggested easing United States restrictions on Huawei could be a factor in a trade deal with China.

A temporary freeze on further US tariffs, as well as Chinese retaliation, while talks get back under way was discussed by negotiators before the leaders met for lunch, according to people briefed on the talks, who asked not to be identified.

China and the USA had signaled they were open to de-escalating the trade war between the world's two biggest economies on the sidelines of the Group of 20 meeting in Osaka.

The pause in tensions is likely to be welcomed by the business community, and markets, which have swooned on both sides of the Pacific due to the trade war.

The comments, made at a press conference at the G20 summit in Osaka, Japan, come after growing trade hostilities between China and the US.

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"We're holding on tariffs and they're going to buy farm products. I agreed not to increase the already existing Tariffs that we charge China while we continue to negotiate", the president wrote on Twitter.

"The base case scenario was met at G20 and while we are no worse for wear, let's see what the G20 hangover brings", said Stephen Innes, market analyst at Vanguard Markets.

Speaking at a press conference following the summit on Saturday, Mr. Trump reportedly said China and the US can be "strategic partners".

The 14th G-20 Leaders' Summit closed yesterday with a declaration that stopped short of denouncing protectionism and exposed fissures on climate change, although there was agreement in areas such as data protection for a digital economy. Also, Mr. Trump confirmed that the US would not be adding tariffs on $300bn (£236bn) worth of Chinese imports.

FOX Business' Maria Bartiromo talks to Huawei chief security officer Andy Purdy about the U.S.'s Huawei ban and whether the company is obligated to send information to the Chinese government.

China has demanded the USA drop the restrictions, and denied accusations of Huawei being a security threat.

The trade war truce between the United States and China might be running into trouble as members of the Senate criticise a crucial part of the deal.

Potentially showing the Huawei Technologies ban amid China trade talks was a mere leveraging tactic, President Donald Trump ostensibly "just surrendered to China", according foreign affairs expert Gordon Chang in The Daily Beast.

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