China's Xi says wants to work out 'phase one' trade deal with U.S.
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BEIJING (Reuters) - China wants to work out an initial trade agreement with the United States and has been trying to avoid a trade war, but it is not afraid to retaliate when necessary, President Xi Jinping said on Friday. "We want to work for a 'phase one' agreement on the basis of mutual respect and equality," Xi told representatives of an international forum, according to a pool report. "When necessary we will fight back, but we have been working actively to try not to have a trade war. We..