US agrees to end trade dispute with China, Huawei allowed to buy from US suppliers

United States President Donald Trump in a series of tweets on Saturday said he had a great meeting with Chinese President Xi Jinping on the sidelines of the G20 summit in Japan's Osaka where he also agreed to continue negotiations over the stalled trade talks between the two world economies.

"I had a great meeting with President Xi of China yesterday, far better than expected. I agreed not to increase the already existing Tariffs that we charge China while we continue to negotiate," the president wrote on Twitter.

The US-China trade war and climate change have been contentious issues during the G20 summit.

After a meeting with Chinese President Xi Jinping on the last day of the annual summit, US President Donald Trump says relations between the two countries are "back on track" after a breakdown in trade talks last month following Washington's imposed tariffs on USD 300 billion of Chinese goods.

"China has agreed that, during the negotiation, they will begin purchasing large amounts of agricultural product from our great Farmers," Trump added.

The US President further noted that he will allow Huawei Technologies to buy products from US suppliers, in a concession to the communist country.

"At the request of our High Tech companies, and President Xi, I agreed to allow Chinese company Huawei to buy the product from them which will not impact our National Security," Trump said.

"Importantly, we have opened up negotiations again with China as our relationship with them continues to be a very good one. The quality of the transaction is far more important to me than speed. I am in no hurry, but things look very good! There will be no reduction in the Tariffs currently being charged to China," he added.

The remarks came after the US Commerce Department last month had reportedly moved to blacklist Huawei, cutting it off from the US suppliers.

The US also has been engaged in a global campaign to block the Chinese tech giant from so-called 5G communications networks, calling the company a security threat. The Trump administration has alleged that Beijing could use Huawei's products to spy on countries that use them in their networks. The allegations were, however, denied by the company.