Business executives from China and the United States have urged their governments to find a way forward in their lengthy trade dispute. Speaking at a two-day China-U.S. CEOs Dialogue in Beijing, they said this will help bring more certainty to the global economy. 

The dialogue wrapped up on Wednesday, and focused a lot on the impact the dispute was having on the global economy. But it also looked to the future and potential opportunities for businesses in both countries.

Wei Jianguo, the vice Chairman of the China Center of International Economic Exchanges, said there was plenty of consensus on key issues during the meeting.

"The U.S. Chamber of Commerce reiterated that they don’t support the U.S. government's resolution of adding tariffs. Participants from both countries agreed that China is not a currency manipulator. Also, we can’t cut the economic connection between the two countries, as we need each other. We can cooperate in scientific innovation areas, such as AI and big data," said Wei. 

A dozen rounds of high-level negotiations have so far failed to resolve the quagmire, the last of which was in July.

Many feel the marathon talks and uncertainty are putting stress on many companies on both sides of the Pacific.

Despite the deadlock, however, the senior vice president for Asia of the U.S. Chamber of Commerce, Charles Freeman, said American businesses in China were relatively comfortable with the situation for now, but face challenges.

“Most of American businesses are here in the marketplace to serve the marketplace, rather than simply looking at China as an export platform," he explains, adding that "there are pressures on American companies that are sourcing from China, as a result of the tariffs."

"They are looking at supply chains now, and trying to figure out how best to take advantages of the opportunities across different global platforms. The challenge is of course, we don’t know where this is going to end up. There is still no certainty in the trading system,” he said. 

But Freeman did stress for more pragmatism on both sides to find a breakthrough.

“There is no winner in the trade war. We are tired of losing, so our takeaway is that both sides believe strongly about the importance of truce, and sense of urgency, and needs of near-terms victories in the China U.S. trade relations to get us back on track,” Freeman noted. 

The U.S. has gone so far as to sanction some Chinese companies working in the country, citing national security concerns. While China is now preparing a list of American companies it feels cannot be trusted.

Freeman expressed unease about such a list, saying it could be politicized and not based purely on security concerns.

Wei said Beijing wasn't playing any games, however.

“We will only target those companies which will hurt China’s core interests and those who give us grave concerns. The core interests include China’s territory and sovereignty, as well as China’s security and development. We want to make more friends, not hurt anybody,“ he remarked. 

Wei said they had meaningful conversations during the event. Participants did not blame each other, and instead tried to find solutions at the meetings. Businessmen from both countries were willing to unite to continue their cooperation, and take more pragmatic approaches to walk through this difficult time.