China hopes mutual respect will help reach deal to end US trade war
- Minister signals desire for ‘healthy and stable’ relations ahead of Shanghai expo
- Hopes rise after Donald Trump and Xi Jinping agree G20 meeting
China is willing to resolve its trade war with the United States through “mutually respectful talks” with both sides being treated on an equal footing, a senior Beijing official has said.
Wang Bingnan, the commerce vice-minister, was speaking after a recent telephone conversion between Donald Trump and his Chinese counterpart Xi Jinping, after which the US president said he was hopeful of reaching a “good deal”.
“China will jointly promote the healthy and stable development of China-US relations,” Wang told a press conference in Shanghai ahead of the China International Import Expo, a trade show that will run from Monday until Saturday.
Hopes that the two nations would calm down the escalating tensions between the two sides grew following the phone conversation between Xi and Trump on Thursday night, during which both leaders said they were willing to meet on the sidelines of the G20 summit in Argentina at the end of the month, but analysts warned a major breakthrough was unlikely.
Markets have soared on reports that the two sides are closing in on a deal that would avoid further US tariffs on Chinese imports.