Truce emerges on China-US tariffs; easing of Huawei ban

A U.S. - China trade truce emerged from talks over the weekend. (Getty Images)

U.S. President Donald Trump and Chinese President Xi Jinping said over the weekend that they don’t plan to levy new tariffs on each other country’s products, at least for the time being.

The two men met in Osaka, Japan, the scene of the Group of 20 summit. Stocks on Asia Pacific markets mostly rose early Monday on the news of an apparent truce. Investors expected similar gains on U.S. markets.

The announcement means the two countries intend to resume trade talks at some undetermined date, but some analysts were skeptical much progress will be made.

Free Daily Newsletter

Interesting read? Subscribe to FierceElectronics!

The electronics industry remains in flux as constant innovation fuels market trends. FierceElectronics subscribers rely on our suite of newsletters as their must-read source for the latest news, developments and predictions impacting their world. Sign up today to get electronics news and updates delivered to your inbox and read on the go.

President Trump also suggested he will reverse the U.S. decision to ban American companies from selling products to Huawei, based in Shenzhen, according to reports, including from CNBC.

But President Trump said the Huawei decision hinges on the conclusion of negotiations with China. He said Huawei has not been removed from the entity list that indicates Huawei is a security threat.

RELATED: “U.S. tech firms find ways to bypass Huawei blacklisting"

Any Huawei relief applies to the parts of the current ban that don’t affect U.S. security, according to a report from the Wall Street Journal.

Sen. Marco Rubio, R-Fla., tweeted that any concession on Huawei would destroy the credibility of the Trump Administration. “If President Trump has agreed to reverse recent sanctions against Huawei he has made a catastrophic mistake,” Rubio said on Twitter on Saturday.

Read more on

Suggested Articles

Apple finishes week at all-time high on news of a tentative trade deal with China

The ultra-low-power microcontroller market is projected to grow from $4.4 billion in 2019 to $12.9 billion in 2024 for a CAGR of 24.1%.

A study conducted by AAA revealed that automatic emergency braking systems with pedestrian detection were ineffective, particularly at night.