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Closer agreement? Chinese state media sees 'close deal' with US

by ace
Closer agreement? Chinese state media sees 'close deal' with US

Today´s Deals

China and the United States held "constructive negotiations" on trade in a high-level phone call on Saturday, state media Xinhua reported.

China's Deputy Prime Minister Liu He, US Trade Representative Robert Lighthizer, and Treasury Secretary Steven Mnuchin attended the call. Both sides discussed each other's core issues in the first phase of an initial trade agreement and agreed to maintain close communication, according with Xinhua.

Xinhua gave no further details in its report on Sunday.

White House economic adviser Larry Kudlow said on Thursday that the two countries are coming close to a deal on the end of the 16-month trade war, but he gave no further details on the timing of a possible deal.

The United States and China are stuck in successive tariff waves that affect financial markets and threaten to drag global economic growth to its lowest rate since the 2007-2008 financial crisis.

A deal seemed likely in May, but those prospects were dashed after US negotiators said China had moved away from the text of a draft deal.

Concerns reoccurred last week amid reports that trade talks hit an obstacle about how and when to cut tariffs and how much US agricultural products China would commit to buying.

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