China reaffirms any trade deal must be ‘mutually beneficial’
- Foreign ministry stops short of saying deal has been finalised but points to stock market surge as positive sign
- Negotiated a deal to benefit both nations, spokeswoman Hua Chunying says
China is committed to resolving its trade dispute with the US but any agreement must be mutually beneficial, the foreign ministry said on Friday amid rising optimism the two sides are closing in on a deal that would de-escalate the conflict.
Ministry spokeswoman Hua Chunying stopped short of saying if the two sides had reached such an agreement, after reports suggested consensus had been reached on a “phase one” deal – with the US reducing tariffs imposed on Chinese imports and China buying US agricultural products worth US$50 billion.
“As soon as reports emerged suggesting a phase one deal had been reached, major stock markets in the US and Europe jumped,” she said.
“This illustrates that a deal through negotiation is beneficial to both nations and their peoples, and it is what the international community wants.”
Hua said China insisted on resolving the trade dispute through negotiations, which should be based on the principles of equality and mutual respect.
“The agreement has to be mutually beneficial,” she said.