China's official state-run press agency Xinhua news have announced that President Xi Jinping and US President Donald Trump have agreed to resume stalled trade talks.
"(They) agreed that China and the United States should resume economic and trade discussions on the basis of equality and mutual respect," said a Xinhua report, carried on their website Saturday.
According to Xinhua, Trump agreed to not impose new tariffs on Chinese exports while trade talks were ongoing.
The US leader had threatened to raise tariffs to 25% on hundreds of billions of dollars of Chinese exports if talks fell through.
There currently is no confirmation from the United States delegation on the specifics of what was agreed on during the meeting, but Trump said talks with China are “back on track” after their meeting.
A statement is expected from the Trump administration in the coming hours.