China, US Continue Trade Talks, Hint at Deadline Extension

China and US reached a consensus in principle on some major issues during the latest round of trade talks that ended in Beijing on February 15, the Xinhua News Agency reported.

According to Xinhua, the two-day talks between high-ranking officials of both sides covered technology transfers, intellectual property protection, non-barrier tariffs and agricultural and service products imports and exports, which address some of the US'S vital concerns about its trade deficit. The countries also discussed details of a memorandum of understanding on bilateral trade.

During a meeting with the US delegation following the talks, Chinese President Xi Jinping called ChinaUS relations one of the most vital relationships in the world and said that maintaining a healthy and stable relationship is in the best interests of both nations. The US delegation agreed with Xi's statement.

US President Donald Trump reportedly said earlier that if the countries “make a real deal,” he may consider extending the March 1 deadline for the tariff increase delay that he and Xi had agreed upon at the G20 Summit in Buenos Aires.

The two sides announced they will continue talks in Washington, where the same delegations previously held a round of negotiations before the latest Beijing talks and made “important, phased” progress, Xinhua reported.