President Donald Trump Monday said that America's relationship with China has taken a "BIG leap forward" and he was willing to have a trilateral discussion involving Russia to reduce the arms race, a day after his meeting with President Xi Jinping on the sidelines of the G20 Summit in Argentina.
During the meeting Saturday, Xi and Trump agreed to suspend any new tariffs and take steps to address the trade disputes, which over the past few months had threatened to spill over into a trade war between the world's two largest economies.
Trump agreed that on January 1, 2019, he will leave the tariffs on USD 200 billion worth of product at the 10 per cent rate, and not raise it to 25 per cent at this time.
"Very good things will happen. We are dealing from great strength, but China likewise has much to gain if and when a deal is completed. Level the field! Trump said.
"Farmers will be a a very BIG and FAST beneficiary of our deal with China. They intend to start purchasing agricultural product immediately. We make the finest and cleanest product in the World, and that is what China wants. Farmers, I LOVE YOU!" the US president tweeted.
Trump said he and Xi "have a very strong and personal" relationship.
"He and I are the only two people that can bring about massive and very positive change, on trade and far beyond, between our two great Nations. A solution for North Korea is a great thing for China and ALL!" he asserted.
Trump also talked about reducing arms race between US, China and Russia.
"I am certain that, at some time in the future, President Xi and I, together with President Putin of Russia, will start talking about a meaningful halt to what has become a major and uncontrollable Arms Race. The US spent 716 Billion Dollars this year. Crazy!" Trump tweeted.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)