By Jesse Cohen
Investing.com - Renewed trade optimism helped prop up global shares on Thursday, after a report said the United States and China have reached a tentative truce ahead of a highly anticipated Group of 20 (G20) summit in Japan this weekend.
The South China Morning Post, citing sources, said Washington and Beijing were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports.
U.S. President Donald Trump suggested on Wednesday that a deal was possible, although he remained prepared to spread tariffs to all China’s imports to the U.S.
Trump is scheduled to meet his Chinese counterpart Xi Jingping on Saturday.
The positive trade news eased worries heading into talks between the two sides as they attempt to resolve a trade dispute that has dominated market sentiment for most of the past year.
Meanwhile, Trump is also expected to meet Russian President Vladimir Putin on the sidelines of the June 28-29 G20 summit in Osaka.
The meeting with Putin is expected to focus on improving relations between the two countries. The two leaders are also expected to discuss Iran and Syria.
Trump will also hold bilateral talks with leaders of other nations this weekend, including German Chancellor Angela Merkel, Japanese Prime Minister Shinzo Abe, India's Prime Minister Narendra Modi, Turkey’s Recep Tayyip Erdogan and Saudi Arabia’s Crown Prince Mohammed bin Salman.
Once the summit concludes, he will fly to South Korea for talks with President Moon Jae-in.
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-- Reuters contributed to this report