Maurice Greenberg addresses Vision China

The 8th Vision China event, "China-US Relations: 40 Years & Beyond", hosted by China Daily and Bank of China, kicked off in New York on Tuesday.

Maurice Greenberg, chairman of Starr Companies, said he believed it's time for both countries to have a trade agreement.

"If both sides can't do it, both sides will suffer. I'm convinced of that," said Greenberg, also vice-chairman of the National Committee on United States-China Relations.

The forum took place shortly before Beijing and Washington are to hold yet another round of high-level talks in Washington in early October to address their outstanding trade disputes. Twelve such meetings since February 2018 failed to produce a deal.