China’s foreign ministry said in a statement Sunday that Beijing is willing to work with the United States through “storms” in their relationship toward the goal of global stability.
The statement from ministry spokesman Lu Kang mentioned the consensus agreement that U.S. President Trump and Chinese President Xi Jinping reached during the Group of 20 Summit in Argentina earlier this month, Reuters reported.
On Saturday, Trump wrote in a Twitter message that “big progress” was being made in U.S.-China trade talks and that a potential deal was coming together “very well.”
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“Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!” Trump wrote on Twitter.
Following the call, President Xi expressed hope that the two countries could advance toward a more cooperative relationship, Reuters reported Saturday.
The U.S. and China have been involved in a tit-for-tat trade battle throughout the course of 2018. The countries – the world’s two largest economies – have slapped tariffs on one another’s goods, though Washington and Beijing agreed on Dec. 1 to postpone further hikes in an effort to negotiate a deal that satisfies both sides.
If no trade deal is reached, the U.S. is ready on March 2 to increase tariffs on $200 billion in Chinese goods to 25 percent from 10 percent, which could potentially have a significant effect U.S. industries – such as electronics, furniture and machinery -- that depend on Chinese imports, the Wall Street Journal reported.
A tariff increase also could stall China’s economy, potentially slowing global growth, the report said.
A U.S. delegation of trade officials is expected to travel to Beijing in early January for negotiations with the Chinese. If those talks make progress, more negotiations will follow in Washington soon after, the Journal reported.
At the G-20 meetings, Trump and Xi agreed to a 90-day truce on tariff hikes in hopes of reaching a trade deal.
Fox News' Matthew Kazin contributed to this story.
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