By Ritu,

Capital Sands

The Phase 1 trade deal between China and the United States will benefit for both countries and the world, the Chinese foreign ministry said on Tuesday after being asked whether China is considering renegotiating the deal.

Chinese foreign ministry spokesman Zhao Lijian told reporters during a daily briefing that both countries should implement the deal on the basis of equality and mutual respect.

China’s official Global Times reported on Monday that some government advisers were urging Beijing to invalidate the trade deal and negotiate one more favourable to China.