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China’s President Xi Jinping says the US and China have made new progress on significant issues during the talks in Beijing. The step-by-stop progress needs more work and negotiations will resume next week in Washington.

The President of the world’s second-largest economy expressed hope that a mutually beneficial agreement with the largest economy can be reached and that communications can be strengthened. He called for cooperation.

Xi spoke after meeting US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer. The American delegation  confirms the progress but also says there is still much work to be done.

Earlier there were reports that both sides will agree on a bare-bones framework agreement and as they remain far apart. The AFP reported that very difficult issues still remain unsolved.  

Markets have been attentive to trade news.