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China reaffirms any trade deal must be ‘mutually beneficial’
Vice Commerce Minister Wang Shouwen announced on Friday that China and the US have made a breakthrough in trade negotiations, with a consensus agreement reached for a phase-one deal. Speaking in a late night press conference in Beijing, Wang said the agreement covered a wide range of issues, including intellectual property protection, technology transfer, purchase of agricultural products and expanding trade. The US has also agreed to reduce its tariffs on Chinese imports in stages, Wang said. The Office of the United States Trade Representative confirmed the agreement on Friday, saying in a statement: “The United ... (full story)