Phase 1 trade deal benefits US-China and World: Xi Jinping

BEIJING: The phase-one economic and trade deal between China and the US does not only benefit the two economic giants but also the whole world, Chinese President Xi Jinping said.

In a phone conversation with his US counterpart Donald Trump, Xi on Friday noted that the two countries have reached the phase-one agreement on the basis of the principle of equality and mutual respect, reports Xinhua news agency.

Against the backdrop of an extremely complicated international environment, the agreement benefits China, the US, as well as the peace and prosperity of the whole world, Xi said.

For his part, Trump said that the agreement was good for the two countries and the whole world.

Noting that both countries' markets and the world have responded very positively to the agreement, Trump said that the US was willing to maintain close communication with China and strive for the signing and implementation of the agreement at an early date. (IANS)

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