At G20, Trump, Xi agree on a 90-day ceasefire in the US-China tariff war

The United States and China agreed Saturday in a long-anticipated summit to hold off on new tariffs after January 1, Chinese state media said following a months-long trade war.

The China Daily and Chinese international broadcaster CGTN both said President Donald Trump and his counterpart Xi Jinping agreed to 90-day halt tariffs "after January 1" -- when Washington has been set to impose $200 billion in new tariffs.

The White House did not immediately comment on the outcome of the meeting on the sidelines of the G20 summit in Buenos Aires, but senior Trump adviser Larry Kudlow said that it went "very well".