China says it will strive to reach 'phase one' trade deal with U.S.
Topics: CHINA TRADE U.S.
China is willing to work with the United States to resolve each other's core concerns on the basis of equality and mutual respect, and will try hard to reach a "phase one" deal, Gao Feng, spokesman at the ministry, told reporters.
"This is in line with the interests of both China and the United States, and of the world," Gao said.
Economists warn that the prolonged trade dispute between China and the United States is escalating risks to the global economy by disrupting supply chains, discouraging investment and dampening business confidence.
Completion of a phase one deal could slide into next year, trade experts and people close to the White House told Reuters previously, as Beijing presses for more extensive tariff rollbacks and the U.S. administration counters with heightened demands of its own. ■