China, US had 'constructive' phone call on trade: Report

WION Web Team New Delhi Nov 17, 2019, 09.27 AM(IST)

File photo. Photograph:( Reuters )

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China's Vice Premier Liu He, US trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in a phone call discussed each other's core issues for the first phase of an initial trade agreement and agreed to maintain close communication, according to Xinhua.

China and United States had "constructive talks" on trade in a high-level phone call on Saturday, news agency Reuters reported quoting state media Xinhua.

China's Vice Premier Liu He, US trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in a phone call discussed each other's core issues for the first phase of an initial trade agreement and agreed to maintain close communication, according to Xinhua.

Xinhua gave no other details in its report on Sunday.

White House economic adviser Larry Kudlow said on Thursday the two countries were getting close to an agreement about ending their 16-month trade war, but he gave no further details on the timing of a possible deal.

The US and China are locked in a tariff war that have roiled financial markets and threatened to drag growth in the global economy to its lowest rate since the 2007-2008 financial crisis.

An agreement had appeared likely in May, but those prospects were dashed after US negotiators said China backed away from the text of a draft agreement.

Concerns flared again last week amid reports that the trade talks had hit a snag over how and when to reduce tariffs, and how much U.S. agricultural products China would commit to buy.