US President Donald Trump in a tweet said he agrees with a statement issued by China expressing full confidence that a trade deal between the two countries can be reached within the next 90 days.

On Saturday, Mr Trump and Chinese President Xi Jinping agreed on a truce in their escalating trade war during their meeting on the sidelines of the G20 summit in Buenos Aires, Argentina.

Mr Trump agreed to suspend plans to raise tariffs on 200 billion Dollars worth of Chinese products from 10 per cent to 25 per cent.

He warned that if the negotiations do not succeed within three months, the tariffs will be hiked as planned.