During their working dinner, the two leaders had very "positive and constructive" discussions over trade and economic issues and agreed not to impose additional tariffs, he said, adding that China will import more marketable products form the USA in efforts to gradually ease imbalances in bilateral trade. The agreement keeps those tariffs at 10 percent for at least the next 90 days while the countries negotiate further.
"The two presidents agreed that the two sides can and must get bilateral relations right", Wang told reporters, adding they agreed to further exchanges at appropriate times.
The White House in turn did not immediately elaborate on any details of the meeting, besides economic adviser Larry Kudlow telling reporters that the dinner went "very well".
It was the first meeting between Xi and Trump since the US president paid a state visit to China in November past year. If those negotiations aren't successful, then it's tariff time.
Both a Trump adviser and Chinese media said earlier that talks after the G20 summit in Buenos Aires had gone well.
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"For the first time ever, the G-20 recognized the WTO is now falling short of meeting its objectives and that it's in need of reform", a US official, speaking on condition of not being named, told reporters.
During the meal, Xi also expressed sympathies for the passing of the former president, saying Bush, who also was once the US envoy to China, had "made many contributions to U.S".
Prior to Trump's meeting with Xi, Stanley Chao, managing director of California-based All in Consulting, which assists Western companies in developing business in Asia, told Newsweek that he believed Trump needed "a win after the midterm elections", suggesting that the president would need to compromise.
USA analysts were cautiously optimistic, noting that all tariffs so far imposed remain in place.
He suggested that the "incredible relationship" he and Xi had established would be "the very primary reason" they could make progress on trade, though he offered no sense of how they might resolve the main issue dividing their countries.
In their remarks before dinner, Trump and Xi spoke at a table covered in white plates, white tablecloth, and yellow and red flowers. The deadly synthetic opioid is responsible for tens of thousands of US drug deaths annually.
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China's efforts to tackle the abuse of fentanyl-like substances have won positive comments from across the globe and Beijing has chose to list all fentanyl-like substances and their precursors as controlled substances, Wang said.
Xi also said that he was open to approving the previously unapproved Qualcomm-NXP deal should it again be presented to him, the White House added.
President Trump heralded the meeting as "amazing and productive", saying it brought about "unlimited possibilities for both the United States and China".
Mr Trump had also said that if talks were unsuccessful, he would carry out a threat to hit the remaining $267b of annual Chinese exports to the USA with tariffs of 10-25 percent.
Earlier on Saturday, the leaders of all the world's top economies called for reforms to the crisis-stricken World Trade Organization in a final statement from their summit. The presidents have come to an agreement on stopping the imposition of additional tariffs.
The declaration struck a neutral formula on trade, reading: "We welcome the strong global economic growth while recognizing it has been increasingly less synchronized between countries and some of the key risks, including financial vulnerabilities and geopolitical concerns, have partially materialized".
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The communique mentioned the brewing trade war between the U.S. and China.