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12/5/2019, 8:21 AM (Source: TeleTrader)
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China in 'close contact' with US on trade deal

China's Commerce Ministry said on Thursday that Beijing is in "close contact" with the United States regarding reaching a trade agreement.

The ministry's spokesman Gao Feng stressed that any potential phase one deal with Washington would have to include a rollback of certain tariffs.

The comments come a day after media reports claimed the two sides are nearing an agreement to remove some tariffs on each other's goods as part of the phase one trade deal. Meanwhile, US President Donald Trump stated that negotiations with Beijing are "going well" despite stressing a day earlier that he may prefer the deal to be reached after the 2020 presidential election.

Breaking the News / NP