Home Politics Phase one of the Trade deal should be mutually respectful and beneficial – Xi

Phase one of the Trade deal should be mutually respectful and beneficial – Xi

China wants to work on the so-called ‘phase one’ trade deal with the United States. But the country will not hesitate to intervene if necessary. That is what Chinese President Xi Jinping said. Earlier this week there were reports in Washington that a trade deal is probably no longer possible this year.

According to Xi, it is important that an agreement follows on the basis of mutual respect and equality. Where necessary, China will hit back, said Xi, who emphasized that the use of the talks is aimed at reaching an agreement. “We did not initiate this trade war and this is not what we want,” said the Chinese.

In the financial markets, great attention is paid to the chance of a trade deal and reports on the time frame of the negotiations. The American Chamber of Commerce, in turn, emphasized that the partial agreement may not be settled before December 15, the date on which the newest import duties on Chinese goods take effect.

US President Donald Trump said in the first half of October that an agreement had been reached on a deal with China that should be the prelude to the end of the trade war between the countries. Beijing then emphasized that there was nothing on paper yet. Since then, the partial agreement has been negotiated further behind the scenes.

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