China Vice Premier discusses phase one of trade deal with US

China Vice Premier discusses phase one of trade deal with US

Agency News

Beijing, Nov 26: China and US negotiators on Tuesday held a telephone conversation on trade and economic issues and agreed to further discuss the "phase one" trade deal, the Chinese Commerce Ministry said in a statement.

"China’s Vice Premier Liu He had a telephone conversation on Tuesday morning with US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer. The parties discussed ways to address each side's main concerns, agreed to keep in touch on the remaining issues regarding consultations on the first part of the agreement," the statement read.

Commerce Minister Zhong Shan and Chinese People's Bank Governor Yi Gang also took part in the conversation from the Chinese side.

The United States and China are expected to sign the first part of the trade agreement later this year. It is likely to cover key trade issues, including intellectual property, financial services and US agricultural exports.

Trade tension between China and the US have persisted for more than a year, with both countries applying tariffs to billions of dollars' worth of goods from the other. (UNI)