China wants an initial trade pact with the United States and has been trying to avoid a trade conflict, according to Chinese President Xi Jinping, who recently said it is not scared of retaliating when the need arises. “We want to work for a ‘phase one’ agreement on the basis of mutual respect and equality,” Xi told representatives of a global forum.
“When necessary we will fight back, but we have been working actively to try not to have a trade war. We did not initiate this trade war and this is not something we want,” Xi was quoted as saying. He was responding to questions from representatives of the New Economy Forum organised by Bloomberg at the Great Hall of the People in Beijing. Completion of a phase one trade deal may reportedly extend into the next year, according to experts.
China wants an initial trade pact with the United States and has been trying to avoid a trade conflict, according to Chinese President Xi Jinping, who recently said it is not scared of retaliating when the need arises. “We want to work for a ‘phase one’ agreement on the basis of mutual respect and equality,” Xi told representatives of a global forum.
