By: Pan Tzu-yu and Frances Huang
Taipei, July 1 (CNA) A truce between the United States and China in their trade war struck during ameeting between U.S. President Donald Trump and Chinese President Xi Jinping on the sidelines of the G20 summit last week is expected to benefit not only Washington, but also Taipei, the Chung-Hua Institution for Economic Research (CIER) said Monday.
Wang Jiann-chyuan (王健全), vice president of CIER, told reporters that the better-than-expected results reached in the Trump-Xi meeting is expected to help the U.S. economy, the largest in the world, stem downside risks in the second half of this year, and that will create a breather for the global economy, including Taiwan's.
On the sidelines of the G20 summit held during June 28-29 in Osaka, Trump and Xi agreed to suspend a trade tariff escalation against each other's country and continue talks to resolve their trade disputes.
Moreover, the U.S. president announced lifting the ban against Chinese telecom equipment supplier and smartphone brand Huawei Technologies Inc., allowing U.S. tech companies to sell products to the Chinese firm. [FULL STORY]