China, US agree on necessity of trade deal

China and the US hold the same position on reaching a trade deal, Foreign Ministry spokesman Geng Shuang said on Tuesday when asked about the preliminary agreement reached between the two countries in the latest trade consultations which concluded on Friday.

Geng confirmed the two sides have already reached the "substantial phase-one deal" referred to by the US side.

He noted the deal bears great significance.

"It will benefit China, the US and the whole world. It is also beneficial to trade and peace," he said, noting China and the US hold the same position on reaching an agreement without differences," he said.