China welcomes preliminary deal in trade war it blames on US

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"1">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>China has put a positive face on a first-step trade agreement that seeks to avoid a trade war it blames the US for starting&period;<&sol;p>&NewLine;<p>Chinese experts and news media joined government officials in saying the deal would reduce uncertainty for companies&comma; at least in the short term&period;<&sol;p>&NewLine;<p>But they remained cautious&comma; saying both sides will have to show a willingness to compromise to resolve the more fundamental differences between them&period;<&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;It at least stabilises the situation and lays a foundation for the next round of trade talks or cancelling additional tariffs in the future&comma;”<&sol;em> said Tu Xinquan&comma; a professor at the University of International Business and Economics in Beijing&period;<&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;I cannot predict what achievement can be made during the future talks&period;”<&sol;em><&sol;p>&NewLine;<p>The two countries announced a &OpenCurlyDoubleQuote;Phase 1″ agreement on Friday under which both sides will reduce tariffs and China will buy more US farm products&period;<&sol;p>&NewLine;<p>Chinese officials said the nine-chapter text&comma; which includes intellectual property&comma; technology transfer&comma; financial services and dispute settlement&comma; has to undergo legal and translation review before it can be signed&period;<&sol;p>&NewLine;<p>At a late night news conference&comma; timed to coincide with the US morning&comma; the officials said the United States would begin phasing out tariffs on Chinese imports&comma; rather than continue to raise them&period;<&sol;p>&NewLine;<p>The deal was announced just two days before higher tariffs were set to kick in&period; China will make similar tariff cuts&comma; the officials said&comma; but they gave no details&period;<&sol;p>&NewLine;<p>China portrayed the agreement as in line with the opening up of its economy and the deepening of its economic reforms&period;<&sol;p>&NewLine;<p>Increased imports of high-quality products from the United States and elsewhere will <em>&OpenCurlyDoubleQuote;meet the growing needs of the people for a better life&comma;”<&sol;em> Wang Shouwen&comma; a deputy commerce minister and trade negotiator&comma; said in a statement&period;<&sol;p>&NewLine;<p>The Global Times&comma; a state-owned newspaper known for its nationalistic views&comma; called the agreement a new beginning&period;<&sol;p>&NewLine;<p>It pointed to stock market gains in recent days as word of a possible deal leaked&period; The dispute between the world’s two largest economies had rattled markets and depressed global growth&period;<&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;China and the US have been locked in a trade war for about 20 months and neither side could overwhelm the other to recklessly impose its own will on the other&comma;”<&sol;em> the newspaper said&period;<&sol;p>&NewLine;<p>It added&comma; though&comma; that both countries are capable of prolonging the trade war&comma; and that they must be willing to compromise if they want to resolve their differences through patient negotiations&period;<&sol;p>&NewLine;<p><em>&OpenCurlyDoubleQuote;Rome was not built in a day&comma;”<&sol;em> it wrote&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed12142c7ed">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; 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