Details of the agreement are being laid out in press releases in advance of the meeting between Chinese President Xi Jinping and President Donald Trump at the Group of 20 Leaders Summit in Osaka, Japan, this weekend, three sources — one in Beijing and two others in Washington — said.
Such an agreement would avert the next round of tariffs on an additional $300 billion of Chinese imports, which would extend punitive tariffs to virtually all of the country’s shipments to the U.S. The Trump administration has threatened to slap duties of up to 25 percent on the remaining untaxed Chinese goods if this weekend’s talks go poorly.
One source with knowledge of the planning said Trump’s decision to delay additional tariffs was Xi’s price for holding the meeting in Osaka.
“The reality, though, is President Trump could always have a change of heart,” the source said. “But the truce cake seems to have been baked.”