China confident trade deal with US to come within 90 days

Politics 12/6/2018, 8:31 AM
China confident trade deal with US to come within 90 days

China's Commerce Ministry said on Thursday that the country's President Xi Jinping's trade talks with his American counterpart during the G20 summit were successful and added the two sides "reached a high level of consensus."

The ministry's spokesperson Gao Feng noted that Beijing is confident a trade agreement with the United States will be reached during the 90-day period during which Trump and Xi vowed to refrain from imposing new protective measures and to focus on negotiations instead. "The ultimate joint goal is to remove all new tariffs," Gao added. He stressed Beijing and Washington already reached a consensus on agriculture, energy and cars and stated these agreements will be "immediately implemented."

Earlier, US Treasury Secretary Steven Mnuchin expressed confidence a "concrete" trade deal with China will be reached during the trade war pause and White House economic adviser Larry Kudlow noted results should be seen even before the 90-day truce expires. However, Trump said a trade agreement will "probably" be reached before the end of February, but hinted the negotiation period may be "extended."

Breaking the News / NP