US-China officials' phone call underscores urgency to defuse trade tensions – Global Times

The phone call held between China’s Vice Premier Liu He and US Trade Representative Lighthizer, US Treasury Secretary Mnuchin on Tuesday morning highlights the urgency from both sides to defuse trade tensions amid rising political friction, the Chinese news outlet Global Times reported, citing experts on the matter.

"The phone call shows that the two sides are still seriously pushing forward a possible phase one trade agreement, despite noise," Li Yong, deputy chair of the expert committee of the China Association of International Trade, told the Global Times and argued that it would be "unwise" for sides to refuse to make a deal because of recent complications.

The 10-year US Treasury bond yield was last down 1.15% on the day, suggesting that these comments had no impact on the market sentiment.