China and US agree on first phase of trade deal

The US and China now agree on a so-called phase-one agreement in the trade dispute between the two countries, said Chinese Vice Minister of Commerce Wang Shouwen at a press meeting on Friday.

Photo: Greg Baker/AFP/Ritzau Scanpix

China and the US agree on a 'phase-one' deal in the trade conflict between the two countries. According to the Chinese, the two parties have agreed on the deal's text and to take the next step toward finalizing and signing it as soon as possible, said China's Vice Minister of Commerce Wang Shouwen at a press meeting on Friday.

China says that the parties have made "significant progress".

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