Beijing: China said on Tuesday that it was on the "same page" with the US on trade as it confirmed that the two countries are likely to sign a "phase one agreement" soon to end their trade war. Beijing also confirmed that it has stepped up purchase of American agricultural produce in large quantities in a bid to address the trade deficit with the US, which last year climbed to USD 539 billion.

US President Donald Trump, who had launched the trade war last year demanding China to reduce massive trade deficit, said that after the 13 round of trade talks the two countries have reached a "very substantial phase one deal." Trump is also demanding an intrusive verification mechanism to supervise Beijing's promise to protect intellectual property rights (IPR) technology transfer and more access to American goods to Chinese markets.