China open to negotiations with US: Premier Li

China’s Premier Li Keqiang told state media yesterday that his country is open to negotiating with the US over current trade tensions, pointing to dialogue as the way forward ahead of a visit by US officials to Beijing.

“There is no winner in trade conflict, which will not only affect the recovery of the world economy but also the global industrial chain,” Li said at a meeting with US Secretary of Transportation Elaine Chao.

US Treasury Secretary will head to Beijing to discuss the situation with regards to trade between the two countries, accompanied by a team of economic advisers including Larry Kudlow, who said the resolution of ongoing disagreements will be “a long process”, as Reuters reports.