Earlier, US President Donald Trump indicated that Washington was “VERY close’ to reaching a “BIG” trade deal with China, which would end a massive trade war which has impacted hundreds of billions of dollars’ worth of trade between the two economic giants.

China and the United States have achieved major progress in negotiations on a phase one trade agreement, China’s ministry of commerce has announced.

Speaking at a media briefing in Beijing on Friday, commerce Vice Minister Wang Shouwen indicated that the ‘context’ of the phase one agreement has been agreed upon.

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