The White House
Office of the Press Secretary
FOR IMMEDIATE RELEASE
December 1, 2018
Statement from the Press SecretaryRegarding The President’s Working Dinner With China
The President of the United States, DonaldJ. Trump, and President Xi Jinping of China, have just concluded what both havesaid was a “highly successful meeting” between themselves and their most seniorrepresentatives in Buenos Aires, Argentina.
Very importantly, President Xi, in awonderful humanitarian gesture, has agreed to designate Fentanyl as aControlled Substance, meaning that people selling Fentanyl to the United Stateswill be subject to China’s maximum penalty under the law.
On Trade, President Trump has agreed thaton January 1, 2019, he will leave the tariffs on $200 billion worth of productat the 10% rate, and not raise it to 25% at this time. China will agree topurchase a not yet agreed upon, but very substantial, amount of agricultural,energy, industrial, and other product from the United States to reduce thetrade imbalance between our two countries. China has agreed to start purchasingagricultural product from our farmers immediately.
President Trump and President Xi haveagreed to immediately begin negotiations on structural changes with respect toforced technology transfer, intellectual property protection, non-tariffbarriers, cyber intrusions and cyber theft, services and agriculture. Bothparties agree that they will endeavor to have this transaction completed withinthe next 90 days. If at the end of this period of time, the parties are unableto reach an agreement, the 10% tariffs will be raised to 25%.
It was also agreed that great progress hasbeen made with respect to North Korea and that President Trump, together withPresident Xi, will strive, along with Chairman Kim Jong Un, to see a nuclearfree Korean Peninsula. President Trump expressed his friendship and respect forChairman Kim.
President Xi also stated that he is open toapproving the previously unapproved Qualcomm-NXP deal should it again bepresented to him.
President Trump stated: “This was anamazing and productive meeting with unlimited possibilities for both the UnitedStates and China. It is my great honor to be working with President Xi.”