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China welcomes U.S.-EU trade truce

EU commission president Juncker and Chinese premier Li Keqiang at a summit earlier this month. Photo: Ng Han Guan/AFP/Getty Images

Chinese leaders are pleased President Trump and European Commission President Jean-Claude Juncker reached a deal to avoid a deeper trade war, at least for now, but say no progress has been made for a similar U.S.-China deal, Caixin Global reports.

What they're saying: “It is certainly a good thing to not fight a trade war, not only for the U.S. and Europe, but also for the whole world,” Ministry of Commerce Spokesman Gao Feng said today. “We will keep an eye on whether the two sides’ joint statement can get implemented.” Gao added that in order to begin talks with the U.S. to resolve the trade standoff, China would need "an assurance that the other side will keep its promises — a reference to Washington’s levying of protective tariffs last month after previously promising not to do so," per Caixin's report.