06:28 GMT15 July 2020
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    BEIJING (Sputnik) - China is sure that the recent trade agreement reached by US President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit in Argentina will be fulfilled, the Chinese Commerce Ministry said Wednesday.

    "The meeting was very successful. We have confidence that the agreement will be implemented. The working groups of the two states will actively hold consultations for 90 days in accordance with the agreement and the road map," the ministry said in a statement.

    Trump agreed last week at G20 to postpone increasing the tariff on $200 billion in Chinese imports to 25 percent, initially planned to go through on January 1. China, in turn, agreed to purchase a "substantial amount" of US agricultural, energy and industrial products, among others, to reduce the trade imbalance between the two countries.

    China and the United States have been engaged in a trade war after Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit.

    Since then, the two countries have exchanged several rounds of trade duties on hundreds of billions of dollars worth of goods.

    READ MORE: Midterms Show Trump Needs Good Deal With China Before 2020 Elections — Economist


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