China, US hold ‘constructive’ call on trade deal, Latest Business News - The New Paper

China, US hold ‘constructive’ call on trade deal

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BEIJING Top Chinese and United States trade negotiators held "constructive" discussions over the phone on a preliminary trade deal between the two countries, China's Commerce Ministry announced in a statement yesterday.

The long-running trade war between Washington and Beijing has weighed on the global economy and spooked markets, with the two sides imposing punitive tariffs on hundreds of billions of dollars in two-way trade.

US President Trump announced a "phase one" trade deal last month which has yet to be signed.

Vice-Premier Liu He spoke with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Saturday, and had "constructive discussion on each side's core concerns regarding the phase-one agreement", the Chinese Commerce Ministry said.

The two sides will "continue to maintain close communication", it added, without providing further details.

Mr Trump had planned to sign a pact with China's President Xi Jinping on the sidelines of the now-cancelled summit in Chile this month.

Since that cancellation, no other meeting between the two has been announced. - AFP