The agreement reached by President Donald Trump and President Xi Jinping of China to effectively pause their trade war and work toward a pact appears to be aimed at giving the two leaders some political breathing room after an escalating fight has begun inflicting economic damage on both sides of the Pacific.
The temporary truce, forged over a working dinner on Saturday night in Buenos Aires, does little to resolve the deep differences between the two nations and is more a political agreement than a substantive one. Both sides immediately positioned the cease-fire as a domestic victory while staking out areas where they would not compromise.
“It’s an incredible deal. It goes down, certainly — if it happens, it goes down as one of the largest deals ever made,” Trump told reporters late Saturday night aboard Air Force One.
China’s foreign ministry in a statement characterized the meeting as “very successful,” adding, “The two sides proposed a series of constructive plans on how to properly resolve existing differences and problems.”
Read more in The New York Times.