Official: China hopes for US trade pact as tariff hike nears

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In this photo taken Sunday, Dec. 8, 2019, Chinese shoppers take photos of foreign performers outside an Apple store in Beijing. Investors are hoping that the U.S. and China will reach a trade deal before new U.S. tariffs go into effect Dec. 15 on some popular products made in China, including smartphones and laptops. (AP Photo/Ng Han Guan)Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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In this Saturday, Dec. 7, 2019, photo, Chinese parents and their children shop for toys at the American toy store FAO Schwarz at the capital city's popular shopping mall in Beijing. A Chinese official says Beijing wants prompt settlement of its trade war with Washington. The comment on Monday, Dec. 9 by a deputy commerce minister comes ahead of a possible U.S. tariff hike on Dec. 15. (AP Photo/Andy Wong)Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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In this Saturday, Dec. 7, 2019, photo, a man and a child look at toy guns on display for sale at the American toy store FAO Schwarz at the capital city's popular shopping mall in Beijing. A Chinese official says Beijing wants prompt settlement of its trade war with Washington. The comment on Monday, Dec. 9 by a deputy commerce minister comes ahead of a possible US tariff hike on Dec. 15. (AP Photo/Andy Wong)Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

BEIJING (AP) - A Chinese official says Beijing wants a prompt settlement of its trade war with Washington.

A deputy commerce minister said Monday that Beijing wants "satisfactory results as soon as possible." The official gave no details of talks on a "Phase 1" deal announced by President Donald Trump in October.

Another U.S. tariff hike on $160 billion of Chinese imports is due to take effect Sunday. China announced Friday it was carrying out a promise to waive punitive tariffs on American soybeans and pork.

Trump alarmed global financial markets last week when he said he might be willing to wait until after next year's presidential election to reach a settlement.