China says U.S and China should both make compromises in trade talks

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Wang Shouwen, deputy representative of the International Trade Negotiation of the Ministry of Commerce of China during a press conference at the National People's Congress (NPC) in Beijing, China, March 9, 2019. /VCG Photo

China and the United States should be willing to make compromises in trade talks and not insist on what only one side wants, Chinese Vice Commerce Minister Wang Shouwen said on Monday.

Discussions between the Chinese and U.S. trade teams are underway, Wang told media at a briefing, without disclosing how or where the talks were taking place.

China and the United States last week said they were reviving talks ahead of this week's meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the coming G20 summit in Osaka, Japan, cheering financial markets hoping for a de-escalation in a trade war that is damaging the global economy.

Assistant Minister of Foreign Affairs Zhang Jun delivers his opening remarks during a Treaty on the Non-Proliferation of Nuclear Weapons conference with the UN Security Council's five permanent members in Beijing, China, January 30, 2019. /VCG Photo

Both the Chinese and U.S. teams are making preparations for the Xi-Trump meeting, said China's Assistant Foreign Minister Zhang Jun at the briefing.

The international community recognizes harm from protectionism, and China will safeguard its fundamental interests, Zhang added.

He said, the global economy faces rising risks, and the Group of 20 should ensure unity and cooperation.

(With input from Reuters)