China Amid Trad War Says : US Should Avoid ' Strategic Misjudgement '

The statement by China's Foreign Ministry came a day after US President Donald Trump said talks on a deal to end the trade war with China are "moving well" after a telephonic conversation with his Chinese counterpart Xi Jinping.

 Beijing:

China on Sunday called on the United States to take a more objective view of its commitment to take action to reduce the bilateral trade deficit and said the two countries should strengthen mutual strategic trust and avoid "bad strategic judgment".

Chinese Foreign Ministry statement comes one day after US President Donald Trump declares that negotiations on an agreement ending the trade war with China are progressing well after a telephone conversation with Chinese counterpart Xi Jinping .

China has pledged to take steps to increase US imports and investment to meet US demand to reduce the bilateral trade deficit by US $ 375 billion. March 1, 2019 is the deadline for the implementation of the measures.

In the past, the United States and China have imposed tariffs equal to more than $ 300 billion worth of goods. An agreement reached in November between the two countries on the sidelines of the G20 summit in Argentina postponed the imposition of new customs duties in March.

After Trump's phone conversation with Xi on Saturday about the ongoing trade negotiations, Trump tweeted, "I just had a very long and very good conversation with President Xi of China."

"The agreement is moving forward very well and if it is concluded, it will be very comprehensive and cover all topics, areas and issues." "Great progress is being made!"

The two leaders expressed their willingness to push for the implementation of the agreements reached at the G-20 summit in Argentina, the Xinhua news agency reported on the Trump-Xi talks as part of two countries to reach an agreement ending the trade war.

After a series of additional tariff measures on their exports, the two countries have declared a truce until 1 March next year to reach an agreement on Trump's request that China should reduce the bilateral trade deficit by 375 billions of dollars.

The leaders of both countries are actively working to implement such a consensus, said Xi to Trump, expressing the hope that the two sides can meet halfway and reach a deal that is beneficial for themselves and the world as soon as possible, reported Xinhua.

Xi said next year marks the 40th anniversary of the establishment of diplomatic relations between the United States and China.

China attaches great importance to the development of bilateral relations and appreciates the willingness of the US side to develop constructive bilateral relations and cooperation, he said.

 At the same time, the Chinese Foreign Ministry said the United States should take a more objective view of China's development.

The progress made over the last 40 years is not easy and the experience must be learned, said the spokesman of the Chinese Ministry of Foreign Affairs, Lu Kang, in a statement.

"Both parties must have a rational and objective view of their strategic intentions, strengthen strategic communication, enhance mutual strategic trust and avoid any misjudgment," he said.

Both sides must respect the mutual interests of sovereignty, security and development and properly manage differences in order to avoid disrupting the overall picture of bilateral relations, he said.

"Forty years ago, the volume of bilateral trade amounted to less than US $ 2.5 billion ... In 2017, it exceeded $ 580 billion," said Lu.

Bilateral investments between the two countries also increased during the period. In 2017, bilateral investments in various forms amounted to more than $ 230 billion in cumulative terms compared to almost zero 40 years ago, he said.

"Over the past 40 years, from solving the problem of regional hotspots to combating international terrorism, from fighting the global financial crisis to promoting global growth, China and the United States have conducted extensive cooperation at the bilateral, regional and global levels, "said Lu.