Before President Trump and Chairman Xi Jinping met in Osaka at the G20, Beijing requested the removal of current tariffs as a contingency for a Trump-Xi meeting.  The tariffs are causing two issues: (1) China is bleeding cash via subsidies to offset the tariffs and retain export position; (2) ancillary manufacturing companies are exiting China to avoid tariffs into the U.S. market.
Understanding how the static dynamic -he intentionally created- was favorable to the U.S., President Trump reasserted that current tariffs were not going to be removed.

After the Osaka meeting, President Trump and Chairman Xi agreed to re-open talks between the two teams with no new tariffs; however, as stated before the G20 summit the preexisting tariffs would remain.
Beijing is increasingly recognizing how the current status is disfavorable to their economy; and asserting that no further trade talks can take place until the U.S. promises to remove all tariffs as part of a completed agreement.

(SCMP) China has insisted that all tariffs on Chinese imports added by the United States during the trade war must be scrapped immediately as part of any deal to end the year-long conflict, which would require the Trump administration to give up its position that some levies remain in place even after an agreement is reached.

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Chopper pressers are the best pressers.  Earlier today President Trump stopped to deliver remarks and answer questions from the assembled media prior to boarding Marine-One.
There is a ton of updated current event information in this chopper presser. [July 4th, Economics, Fed, China, Biden, Wilbur Ross, Census, G20, Trade Deals, etc.]  The full transcript is below the video.

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[Transcript]  THE PRESIDENT: That’s a great crowd of people. We had a phenomenal crowd last night, and it was a fantastic evening for our country. You’re going to have a lot of people being recruited, I think, based on that. We’re going to have a lot of — a lot of people joining our military. And we really needed that.
Our job numbers are so good that the military has a hard time getting people. And I think, really, that you’re going to see a big spike. I’ve already heard it — a lot of people calling in. No place like our military. I think we showed that last night.
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Excellent news from White House manufacturing policy advisor Peter Navarro as he discusses the re-engagement in U.S. and China trade discussions. Great INFO.
You won’t see this interview highlighted by MSM.  As we anticipated the prior 150 page agreement negotiated by USTR Robert Lighthizer and Vice-Premier Liu He, previously dismissed by Beijing after three months of intense discussions, is now the starting point for new talks.  This means the Chinese have acquiesced to the prior terms they rebuked.
The seven chapters, each assigned to a specific trade sector, are the baseline for Lighthizer and Liu He to re-engage.  Excellent news from the position of the U.S. team.

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The CNBC knucklehead injecting about a Hauwei compromise was quickly corrected by Navarro. The Commerce Department restrictions and process for 90-day licenses to do business with Hauwei remains unchanged.
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Well, this will not come as a surprise to CTH readers, but it affirms prior suspicion of Chairman Xi Jinping’s motives and intents in the pre-G20 trip to North Korea.  There is also an aspect to this propaganda highlighting that Beijing actually had this narrative written prior to the outcome, I’ll explain below.

As predicted, China’s state media are proclaiming that Chairman Xi Jinping, playing the role of magnanimous panda, is responsible for the success and restart of the discussions between President Trump and Chairman Kim Jong-un of North Korea:

CHINA – […] Ten days before the Kim-Trump meeting, President Xi Jinping made a historic visit to North Korea, with one of the key aims being to show political support and help North Korea and the US to break the deadlock in their negotiations, Zheng said.
Xi also met Trump in Osaka on the sidelines of the G20 Summit on Saturday, when they also discussed the peninsula issue. Xi has encouraged both Kim and Trump to push forward negotiations and reach an agreement eventually.
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Fox News host Tucker Carlson traveled to Osaka Japan for the G20 meeting between President Trump and China’s Chairman Xi Jinping.  After the summit meeting Carlson interviews President Trump and broadcast the interview this evening:

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Additionally, Tucker Carlson traveled with President Trump to South Korea for the DMZ visit with Kim Jong-un.
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President Trump has tweeted the high-level status of the negotiation restart.  Essentially the outcome is as we expected.

• Trade talks resume from former stalled point. [Likely Vice-Premier Liu He is back representing Chairman Xi Jinping – Beijing retreat]
• Current enhanced tariff’s remain in place. [The tariffs that were raised when talks collapsed will remain raised and in force. – Beijing retreat]
• China resumes AG purchases. [Likely soy beans will be priority – Beijing retreat]
• U.S. will allow trade purchases, exports, to Huawei of non-National Security tech. [Ross likely to determine products – Trump modifies position]

From this summation it would appear President Trump has created an exit ramp for Chairman Xi Jinping that allows him to save face.  However, obviously with retention of the recent tariff increases the benefits beyond optics all favor President Trump.
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Justin from Canada had a tough time getting any respect while attending the G20 in Osaka, Japan.

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The ‘People’s President’ Donald Trump delivered comments and held a lengthy press conference at the conclusion of the G20 summit prior to traveling to South Korea.
There were hundreds of international media in the audience and President Trump answered deliberate and clarifying questions from a variety of foreign and domestic journalists for well over an hour.  The President was comfortable taking all questions, and was in complete command -often humorous- over all content and subject matter.
Here’s the transcript – Warning: It’s a long read (14,000 words)

THE PRESIDENT: Thank you. Thank you very much. Appreciate it. It’s been a really great period of time. I’ll be leaving now, as you know, for South Korea. Some of you will be coming with us.
I understand that we may be meeting with Chairman King — Kim. And we’ll find out. We spoke with the people. Kim Jong Un was very receptive. He responded. And so, we’ll see. Because tomorrow we’re going to the DMZ. I said, “While I’m there, I’ll shake his hand.” We get along. There’s been no nuclear tests. There’s been no long-range ballistic tests. Gave us back our hostages, which was great. And a lot of good things are happening over there.
So I let him know we’ll be there, and we’ll see. I mean, I don’t — I can’t tell you exactly, but they did respond very favorably.
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It’s looking like the handshake meeting between President Trump, South Korea’s Moon Jae-in and North Korea’s Kim Jong-un is going to happen. President Trump told traveling pool: “We’re gonna see. They’re working things out right now.” Apparently the details are in rapid resolve mode.
President Trump arrived with the U.S. entourage at the Blue House in South Korea, where a reception and dinner were planned by the host nation. LPGA champion Se-ri Park and members of the K-pop band Exo were also at the reception. Video:

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After the reception the President and delegation had dinner hosted by President Moon Jae-in. The main dish was a sirloin steak made of US beef, accompanied by bulgogi sauce, pickled garlic leaves and other side dishes. There were also 12 cold Korean starters on the official menu including steamed sea urchin with tofu and pan-fried mung beans.
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President Trump will be holding a press conference this morning as the G20 summit has concluded. The presser is scheduled for 2:30am EST in Osaka Japan. There are multiple media reports that President Trump and Chairman Xi Jinping have agreed to restart trade discussions.  This will likely be a primary focus of questions as the world is watching.
UPDATE: Video Added

With the pre-G20 magnanimous panda activity by China, there’s little doubt Chairman Xi will have offered a modification in DPRK influence in exchange for a some form of trade negotiations; likely now limited to the restart.  That would present a position where Vice-Chairman Liu He can reengage with the U.S. team (Lighthizer and Mnuchin).
It would make sense for President Trump to pause any further tariff action as an act of good faith if that move can get Kim Jong-Un released. It costs the U.S. position nothing.
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