China announces "new consensus" with US on trade agreement

China on Friday announced a new consensus on a trade agreement with the United States.

Chinese Vice Premier Liu Hee told the "New China "News Agency on Friday that a "new consensus" could be "achieved" with regard to the trade agreement being negotiated between China and the United States.

Liu said the parties to the negotiations had reached a "new consensus on important issues" concerning a trade pact aimed at ending nine months of trade war between the world's two biggest economic powers.

US and Chinese negotiators are seeking a binding agreement to respond to US President Donald Trump's complaints about years of unfair treatment by US companies by China, which would allow for the cancellation of fees that threaten companies in both countries.

US officials say China has been using unfair business practices for years by aggressively supporting its companies and stealing technology from US companies.

Trump said Thursday that the United States will announce in the next four weeks whether to conclude an agreement with China to end the trade war between them.

"If we reach an agreement, we will hold a summit" with the Chinese president, Trump told reporters before his meeting with Liu.

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