China Hopes for Quick Reach of US Trade Agreement

China's Trade Ministry said the trade struggle between the two countries has had no winners, and that an immediate annulment of tariffs should happen as soon as possible.

“A phase agreement will help restore market confidence and reduce uncertainty”, ministry spokesman Gao Feng told reporters, adding that both sides are maintaining close communication.

This would benefit China, the US and the whole world. We hope both sides continue to work together, advance negotiations and reach an agreement in phases as soon as possible”, he said.

Meanwhile, Chinese Prime Minister Li Kegiang said China and the United States should resolve issues through dialogue. He made his comments Thursday when he met with a delegation led by Evan Greenberg, chairman of the US-Chinese Business Council.

“Kina will create an internationalised business environment regulated by law, where domestic and foreign firms are equally treated” said Li.

White House Economics Adviser Larry Kudlow, meanwhile, said he has seen signs of concluding a trade agreement that could be signed next month.

President Trump said days ago that China must reach agreement with Washington, warning it will be even tougher to Beijing if trade talks drag on.

The trade struggle between the US and China has shaken stock markets and has raised fears of a global recession.