US, China 'close to finalising' parts of Phase 1 trade pact: Report

US and Chinese trade officials are "close to finalizing" some parts of an agreement after high-level telephone discussions on Friday, the U.S. Trade Representative's office said, adding that deputy-level talks would proceed "continuously."

In a statement issued after the call, the USTR provided no details on the areas of progress.

"They made headway on specific issues and the two sides are close to finalizing some sections of the agreement. Discussions will go on continuously at the deputy level, and the principals will have another call in the near future," it said.

The call came as Washington and Beijing are working