China-US trade deal good news for all: Chinese foreign minister Wang Yi 

WION Web Team New Delhi, India Dec 14, 2019, 06.24 PM(IST) Edited By: Sparshita Saxena

File photo: Photograph:( Reuters )

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Yi said that there were still many issues between China and the United States that needed to be addressed.

A day after China announced reaching "phase one" trade agreement with the United States, Chinese Foreign Minister Wang Yi said the deal will is good news for all.

Yi added that the agreement will "provide stability in global trade", news agency Reuters reported. 

His comments came on the sidelines on his visit to Slovenia on Saturday.

Yi said that there were still many issues between China and the United States that needed to be addressed, Reuters reported. 

"Phase one" trade deal with the United States has been reached, China announced on Friday.

Beijing added that Washington will be removing tariffs 'phase by phase,' AFP reported. 

China's vice commerce minister Wang Shouwen said that part of the "phase one" trade deal with the US includes a progressive rollback of tariffs that have threatened to roil the global economy.

"The two countries have agreed on the text of a phase one trade and economic deal," Shouwen said at a news conference, adding that the two sides now have to sign the agreement.

On Wednesday, the Bloomberg had reported the US and China are moving closer to "agreeing on the amount of tariffs to be rolled back in a phase-one trade deal," Reuters reported.

(With inputs from agencies