"The trade and economic consultations between China and the United States have achieved substantial progress and provided positive expectations for stability in the US-China relations and the development of the global economy," Wang said as quoted by the Chinese Foreign Ministry.
The day before, Chinese and US negotiators concluded four-day trade talks in Washington. Commenting on the negotiations, US President Donald Trump tweeted that he would delay an increase in tariffs on $200 billion worth of Chinese goods that was originally set for March 1. Trump also said he would be planning a summit with Chinese President Xi Jinping to conclude an agreement to end the trade standoff, "assuming both sides make additional progress."
READ MORE: Trump Announces Plans to Hold Summit with China's Xi to Conclude Trade Agreement
The trade conflict between China and the United States raging since last June when Trump announced the United States would subject $50 billion worth of Chinese goods to 25 percent tariffs in a bid to fix the US-Chinese trade deficit. Since then, the two countries have exchanged several rounds of trade tariffs.
At the G20 summit in Argentina in December, Trump and Xi agreed upon a 90-day truce to allow room for a new trade agreement. The truce is set to end on March 1.
READ MORE: Successful Trade Talks Could Make China Want Trump's Re-Election — Analysts