AS IT HAPPENED: Trump, Xi meet in Beijing; Xi’s ominous warning over ‘most important’ issue in US-China relations; Iran ‘frighteningly close’ to having nuclear weapons; Iran negotiations on the table

“Time and again, it has been proven that there are no winners in a trade war,” Xi said, according to Xinhua. “The essence of China-US economic and trade relations is mutual benefit and win-win cooperation. In the face of differences and frictions, equal consultation is the only correct choice.

“Yesterday, the economic and trade teams of both sides reached an overall balanced and positive outcome, which is good news for the people of both countries and for the world,” he added.

US and Chinese trade envoys met in South Korea on Wednesday, hours before Trump landed in Beijing.

Tariffs are expected to be a major topic in the talks, with the two countries still in a temporary truce after last year’s blistering tit-for-tat tariffs.