A source familiar with the trade talks also told Reuters that US officials could travel to China after Thursday's Thanksgiving holiday in the United States
The amount of tariff relief that would come in the first phase, set to be signed in the coming weeks, would depend on the content of that agreement, spokesman Gao Feng said
While many US companies acknowledge China's efforts to improve intellectual property laws, especially with respect to trademark and brand protection, they still feel China's safeguards come up short
China on Friday said it would impose retaliatory tariffs on $75 billion of US goods, targeting crude oil for the first time and renewing punitive duties on American-made autos
The president indicated that he had no choice but to impose the tariffs that have been a drag on US manufacturers, financial markets and, by some measures, American consumers
US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are headed to Shanghai next week for resumption of trade talks with China
On Thursday, President Trump confirmed that the US would begin collecting tariffs on $34 bn worth of Chinese imports at 12:01 am Washington time on Friday