China says hopes it can reach trade agreement with U.S. as soon as possible

Beijing hopes that it can reach a trade agreement with the United States that satisfies both sides as soon as possible, China's Assistant Commerce Minister Ren Hongbin said on Monday. Ren made the remarks during a press briefing in the Chinese capital.

China and the United States are negotiating a so-called "phase one" deal aimed at de-escalating the prolonged trade dispute, but it is unclear whether such an agreement can be reached in the near term. Washington's next round of tariffs against Chinese goods are scheduled to take effect on Dec. 15.