Beijing, Feb 25: China and the United States made “substantial progress” in negotiations in Washington aimed at resolving their trade war, Chinese state media said Monday.
The report from the official Xinhua news agency echoed the sentiments of US President Donald Trump, who decided to delay a March 1 increase in tariffs on Chinese exports following the latest round of talks.
The two sides “made substantial progress on specific issues” such as the transfer of technology, intellectual property protection, non-tariff barriers, the services sector, agriculture and exchange rates, Xinhua said.
The delegations “came a step closer to realising the important consensus reached” by Trump and Chinese President Xi Jinping when they agreed to a trade war truce in December, the report said.
The two sides agreed to “carry out follow-ups in accordance with the instructions of the two heads of state”.
Xi's special envoy, Vice Premier Liu He, led the talks for the Chinese side.
Trump tweeted that if both sides make “additional progress”, he will hold a summit with Xi at the US leader's Mar-a-Lago resort in Florida to seal the deal.