China says reaching a ‘phase one’ trade deal with U.S. is in both countries’ interest

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China says reaching a ‘phase one’ trade deal with U.S. is in both countries’ interest GlobeBusiness

China's Ministry of Commerce spokesperson Gao Feng attends a press conference in Beijing on April 6, 2018.China will strive to reach an initial trade agreement with the United States as both sides keep communication channels open, the Chinese commerce ministry said on Thursday, in an attempt to allay fears talks might be unravelling.

China has invited top U.S. trade negotiators for a new round of face-to-face talks in Beijing, the Wall Street Journal reported on Thursday, citing unnamed sources, adding Beijing hopes the round of talks can take place before next Thursday’s Thanksgiving holiday in the United States. Some experts said the next date to watch was Dec. 15, when U.S. tariffs on about $156 billion in Chinese goods are set to take effect, including holiday gift items such as electronics and Christmas decorations.In a dinner speech in Beijing on Wednesday, Chinese Vice Premier Liu He said he was “cautiously optimistic” on a phase one deal, Bloomberg News said, citing people who attended the event ahead of a forum organised by Bloomberg LP.

“We should return to the point of origin and cancel all tariffs,” Wei Jianguo said on the sidelines of the Bloomberg forum.

 

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