00:13 GMT +321 March 2019
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    U.S. President Donald Trump is interviewed by Reuters in the Oval Office at the White House in Washington

    'No Rush': Trump Says Very Good Chance of Reaching US-China Trade Deal

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    WASHINGTON (Sputnik) - US President Donald Trump told reporters on Wednesday there was a very good chance the United States would reach a trade deal with China but added that he is in no rush to conclude such an agreement.

    "I'm in no rush, I want the deal to be right", Trump said. "I think there's a very good chance a deal is going to be made". Trump added that he would prefer if US and Chinese officials almost complete the trade deal and wait for Trump and Chinese President Xi Jinping to finalize the agreement during a summit.

    Trump announced last month that he would delay another planned increase in tariffs on $200 billion worth of Chinese goods that was originally set for 1 March, citing progress in the trade talks. At the G20 summit in Argentina in December, Trump and Chinese President Xi Jinping agreed upon a 90-day truce to allow room for a new trade agreement.

    READ MORE: Trump Demands China Lift All Tariffs on US Agricultural Goods

    China and the United States have been embroiled in a trade dispute since June, when US President Donald Trump announced that Washington would subject $50 billion worth of Chinese goods to 25 percent tariffs in a bid to fix the US-Chinese trade deficit. Since then, the two countries have exchanged several rounds of tit-for-tat trade tariffs.

    Logo for Huawei at a launch event for the Huawei MateBook in Beijing
    © AP Photo / Mark Schiefelbein, File
    During the 2016 presidential campaign, Trump repeatedly criticized Beijing for cheating on existing trade agreements and vowed to reduce China’s annual trade surplus with the United States of more than $500 billion. China’s economy has reportedly slowed in response to tariffs imposed earlier by Trump, which US officials credit with persuading Beijing to negotiate.

    The Chinese-based media reported in February, citing sources, that many differences remain between Washington and Beijing, including US demands for structural reforms in the Chinese economy and enforcement mechanism.

    READ MORE: US Fiscal Stimulus Could Run Out of Steam Amid US-China Trade Dispute — Scholar

    Chinese Commerce Minister Zhong Shan said earlier in March that the consultations between China and the United States, de-escalating a trade conflict, were "extremely difficult" due to the large differences between the two countries.

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    chances, trade deal, trade war, Xi Jinping, Donald Trump, United States
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