Australia calls for quick resolution of U.S.-China trade dispute

DAVOS, Switzerland (Reuters) – Australian Finance Minister Mathias Cormann said on Friday both the United States and China would benefit from resolving their trade dispute “as soon as possible”, and he was hopeful the world’s two largest economies would reach a “win-win” situation.

Cormann told Reuters TV at the World Economic Forum in Davos that he was encouraged by the progress that the two countries’ leaders made at the Group of 20 nations meeting in Argentina at the end of November.

U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to a 90-day truce in their trade war, including no escalation of tariffs on Jan. 1 as previously threatened, while the two countries continue negotiations for a deal.

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