US business leader says phase-one trade deal beneficial for both countries

The China-US phase-one economic and trade agreement will not only benefit the US business community but also support China's economic growth in the next decade, US-China Business Council President Craig Allen told Xinhua in a recent interview. China and the United States formally signed their phase-one economic and trade agreement in Washington last week, defusing tensions between the world's two largest economies after nearly two years' strenuous negotiations. There is a lot of "excitement" in the US business community, said Allen, who was among those invited to attend the signing ceremony.