US sees trade deal within reach as China dispatches top aide

US President Donald Trump

The Trump administration expressed optimism it can reach a "reasonable" trade deal with China as President Xi Jinping dispatched one of his top aides to negotiations in Beijing on a lasting truce to a conflict that has roiled financial markets.

"There’s a very good chance that we’ll get a reasonable settlement that China can live with, that we can live with, and that addresses all the key issues," Commerce Secretary Wilbur Ross told CNBC Monday.


Such a deal could involve the Chinese buying more American soybeans and liquefied natural gas, while agreeing to deeper "structural reforms" on issues such as intellectual-property rights and market access, Ross said.

His remarks came hours after a positive development on the ground in Beijing, where Vice Premier Liu He showed up to what were expected to be mid-level talks between US and Chinese officials.

Liu has been Xi’s top trade emissary in the dispute with the US, which has seen the world’s two biggest economies impose tariffs on a combined $360bn in each others’ imports.