China bullish it can strike trade deal with U.S.

Dec 05, 2018, 6:14 AM EST
(Source: The White House/flickr)
(Source: The White House/flickr)

The Chinese Commerce Ministry on Wednesday called the latest bilateral talks between U.S. President Donald Trump and Xi Jinping at the G20 summit “very successful,” adding that it is confident of prompt implementation of trade commitments.

The two countries reached a temporary truce following the G20 summit on Saturday, after months of trade hostilities marked by tit-for-tat duties of billions of dollars on each other’s goods, writes the BBC.

The U.S. and China have agreed in principle on some specific ways on addressing the trade imbalance between them along with structural reforms on forced technology transfer and cyber issues.

Beijing and Washington have agreed to strike a trade deal within 90 days, but Trump took to twitter to warn of placing “major tariffs” on Chinese imports if the negotiations falter, notes Reuters.