Chinese President Xi Jinping and US President Donald Trump talk a day before their eagerly awaited bilateral meeting at a G20 event.
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The US and China will resume trade negotiations in Washington in September after the two countries discussed the increase in Chinese purchases of US agricultural products in recent talks in Shanghai, China's state-run news agency Xinhua said.
The two sides led the negotiations through "open, efficient and constructive intensive exchanges" on important economic and trade issues, and discussed that China will increase its purchase of American agricultural goods and create "favorable conditions" for the US, said Xinhua on Wednesday, adding The next round of "high-level" talks will take place in the US in September.
Hu Xijin, a Chinese official tabloid editor, followed by Wall Street, replayed the sentiment in a Twitter post.
The White House has not issued any explanation as to the outcome of the Tuesday's discussion or the timetable for future shares. The White House did not immediately return CNBC's request for comment.
The two-day meeting in Shanghai, the first personal trade talks since a G20 ceasefire, did not bring much progress on other major trade disputes including the US Huawei ban and China's IP infringement after Xinhua. During the talks, President Donald Trump made a series of tweets criticizing China's commercial practices, claiming that it would no longer buy US agricultural products as promised.
"China is doing very badly, worst year in 27 ̵
He claimed that China could await the outcome of the presidential election in 2020.
"You should probably wait for our election to see if any of the Democrats like Sleepy Joe are waiting for us … The problem with them, however, is that if and when I win, the deal they get gets a lot harder than what we are negotiating … or not at all, "said Trump.
Trump and Chinese President Xi Jinping signed a ceasefire at the G20 summit in June after trade talks collapsed in May, resulting in a sharp increase in US tariffs on $ 200 billion of Chinese goods. The Trump administration has also blacklisted Huawei and forced US companies to cut their ties. China later said that an agreement could only be reached if the existing tariffs were stripped.