United States Trade Representative Robert Lighthizer has claimed while speaking on CBS' "Face the Nation" programme that the US-China phase one trade deal is "totally done", although there would be some routine "scrubs" to the text. Lighthizer continued on by saying that the trade deal would nearly double US exports to China within two years.
The Chinese side earlier in the day expressed hope that Beijing and Washington would be able to resolve the existing problems on the basis of equality and mutual respect.
The world’s two leading economies have been engaged in a trade war for more than a year over what US President Donald Trump deemed unfair economic conditions and non-competitive behaviour from China. Beijing has denied such claims, saying that the trade row is not beneficial to either side or the world economy. The standoff has translated into tit-for-tat tariff hikes on imported goods between the countries.