Beijing, Washington to resume trade negotiations

China and the United States agreed on Saturday to resume trade negotiations.

The two countries will resume negotiations "on the basis of equality and mutual respect," the official Xinhua news agency said after the Chinese and US leaders met on the sidelines of the G20 summit in Osaka.

"I have been in close contact with the (US) president by telephone and by written letters," Chinese president said, stressing that he wanted to exchange views with Trump to push forward relations.

He stressed the intention of Beijing to" promote relations based on coordination, cooperation and stability. "

China and the United States exchanged tariffs on goods which worth more than $ 360 billion between them, leading to turmoil in global financial markets.

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