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Friday 22 Nov 2019 , 2:49 pm

China Wants a US Trade Deal – but will Fight Back if Necessary, says President Xi Jinping

Chinese leader says his country is working for an agreement on the basis of ‘mutual respect and equality’ in first public comment on prospects for phase one agreement.
By SIN Bureau
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China wants to reach an interim trade deal with the United States but it will not shy away from retaliation if necessary, President Xi Jinping said on Friday.

Source: Ministry of Foreign Affairs, the People's Republic of China

It was the Chinese leader’s first public comment on the prospects of an interim – or “phase one” – deal between the two sides.

Speaking to a group of delegates and invited journalists at the Bloomberg New Economy Forum in Beijing on Friday, Xi said: “We want to work for a phase one agreement on the basis of mutual respect and equality."

In a one-on-one meeting with former US secretary of state Henry Kissinger, Xi said the relationship between China and the US was at a crossroads and faced some difficulties and challenges, according to state news agency Xinhua.

“China and the United States should step up communication on strategic concerns to avoid misjudgment and enhance mutual understanding,” Xi said.

Speculation has been mounting that the process of ironing out the details of an interim agreement has proved slower than expected as Beijing and Washington struggle to agree on how to roll back tariffs on each other’s goods.

The two sides also remain at odds over thornier issues such as technology transfers and intellectual property protection.

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Neha Mule

Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.

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