Trump-Xi discuss bilateral trade over phone call
In a major development United States President Donald Trump on Wednesday said the bilateral trade talks with China must bring a beneficial outcome for the US businesses.
New Delhi, May 9: As per the official White House press release on Tuesday "President Trump affirmed his commitment to ensuring that the trade and investment relationship between the United States and China is balanced and benefits American businesses and workers."As reported by the South China Morning Post President Xi, in turn, called for a "mutually beneficial" result of talks in the backdrop of a volatile bilateral trade environment.They further discussed the recent diplomatic engagements between the two countries, which were aimed at easing trade conflicts between the two. The talks came soon after the third California-China Business Summit that was held in China culminated on May 4.As per the reports both sides have managed to reach some agreements over their bilateral trade.On the sidelines of the Business summit, China's Vice Premier Liu He held a bilateral talk with United States Treasury Secretary Steven Mnuchin.They agreed on resolving common concerns regarding economic and trade issues through dialogue and deliberation.They further discussed the issue of increasing US trade exports to China, bilateral trade service, two-way investment, protection of intellectual property rights and imbalanced tariff rates.