Trump says "big progress" on possible China trade deal
Washington and Beijing imposed tit-for-tat tariffs on more than $300 billion worth of goods in total two-way trade this year.
In this May 16, 2018, file photo, President Donald Trump listens to a question in the Oval Office of the White House in Washington.
US President Donald Trump said on Twitter on Saturday that he had a "long and very good call" with Chinese President Xi Jinping and that a possible trade deal between the United States and China was progressing well.
As a partial shutdown of the US government entered its eighth day, with no quick end in sight, the Republican president was in Washington, sending out tweets attacking Democrats and talking up possibly improved relations with China.
The two nations have been in a trade war for much of 2018, shaking world financial markets as the flow of hundreds of billions of dollars worth of goods between the world's two largest economies has been disrupted by tariffs.
Trump and Xi agreed to a ceasefire in the trade war, deciding to hold off on imposing more tariffs for 90 days starting December 1 while they negotiate a deal to end the dispute following months of escalating tensions.
Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!
— Donald J. Trump (@realDonaldTrump) December 29, 2018
Chinese state media also said Xi and Trump spoke on Saturday and quoted Xi as saying that teams from both countries have been working to implement a consensus reached with Trump.
"I hope that the two teams will meet each other halfway, work hard, and strive to reach an agreement that is mutually beneficial and beneficial to the world as soon as possible," Xi said, according to the state-run Xinhua news agency.
The leaders of both the United States and China want "stable progress" in ties, Xi said during the call.
"China attaches great importance to the development of bilateral relations and appreciates the willingness of the US side to develop cooperative and constructive bilateral relations."
Billions of dollars of losses
The US-China trade war has resulted in billions of dollars of losses for both sides in 2018, hitting industries including automobiles, technology - and above all, agriculture.
The losses may give US President Donald Trump and his Chinese counterpart, Xi Jinping, motivation to resolve their trade differences before a March 2 deadline, although talks between the economic superpowers could still devolve.
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