China\, U.S. want to work together on trade - foreign ministry

China, U.S. want to work together on trade - foreign ministry

Reuters  |  BEIJING 

(Reuters) - and the want to work together on trade, the Chinese foreign ministry said on Monday, as the world's two largest economies resumed talks in a bid to end their trade dispute.

U.S. officials are meeting their counterparts in this week for the first face-to-face talks since U.S. and China's agreed in December agreed to a 90-day truce in a trade war that has roiled international markets.

Trump said on Sunday that trade talks with were going very well and that weakness in the Chinese economy gave a reason to work toward a deal.

The two sides agreed to hold "positive and constructive" talks and dialogue to resolve economic and trade disputes in accordance with the consensus reached by the countries' leaders, Lu Kang, at the foreign ministry, told reporters.

"From the beginning we have believed that China-U.S. trade friction is not a positive situation for either country or the world economy. has the good faith, on the basis of mutual respect and equality, to resolve the bilateral trade frictions," Lu said.

Trump imposed import tariffs on hundreds of billions of dollars of Chinese goods last year and has threatened more to pressure Beijing to change its practices on issues ranging from industrial subsidies to intellectual property to hacking. China retaliated with tariffs of its own.

"As for whether the Chinese economy is good or not, I have already explained this. China's development has ample tenacity and huge potential," Lu said. "We have firm confidence in the strong long-term fundamentals of the Chinese economy."

(Reporting by Michael Martina; Writing by Ryan Woo; Editing by Kim Coghill)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 07 2019. 13:26 IST