China, US top negotiators agree to ‘framework' that will need approvals by Xi and Trump
China and the United States wrapped up two days of high-level trade talks in London with an agreement 'in principle to a framework' that each side will bring home for review by their top leaders.
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'The two sides agreed in principle a framework for implementing the consensus' that Chinese President Xi Jinping and US President Donald Trump reached in their phone call last week, and the consensus of high-level bilateral
negotiations in Geneva last month, China's top trade negotiator Li Chenggang told reporters.
'The two sides will bring back a report to our respective leaders the talks in the meeting as well as the framework that was reached in Geneva. We hope that the progress that we made in this London meeting will be conducive to the increasing trust between China and the United States.'
Using similar language – 'agreed in principle a framework' – US Commerce Secretary Howard Lutnick said his delegation was 'going to go back and speak to President Trump and make sure he approves it'.
'They're going to go back and speak to President Xi and make sure he approves it, and if that is approved, we will then implement the framework that we have worked hard over these last two days,' he said. 'Both sides had extra impetus in order to get things done because we both have our presidents behind us, pushing us to make sure we take care of our respective sides.'
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'The idea behind all of this is for us to increase our trade with China, right? ... The fundamental goal is to reduce the trade deficit and increase trade,' Lutnick added. 'So this was the first step of the framework by which we will then approach and discuss growing trade.'
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