China hopes to reach a phased agreement in a protracted trade dispute with the United States, which will lead to the abolition of tariffs, said the representative of the Ministry of Commerce of China Gao Feng.
According to him, a phased agreement will help restore market confidence and reduce uncertainty, Reuters reported.
The Chinese side hopes that both parties will continue to work together, advance negotiations and reach a phased agreement as soon as possible, he added.
White House economic adviser Larry Kudlow, meanwhile, said he sees an impetus for completing the initial phase of the deal, which could be signed at the APEC forum next month in Chile.
US President Donald Trump outlined the first phase of the deal on October 11 and suspended tariff increases, but officials on both sides said that more work needs to be done.