US-China trade deal 'within reach if Xi Jinping and Donald Trump show courage' at G20 summit in Osaka

"Let them get to the word 'yes,' "we have an agreement," Craig Allen, president of the US-China Business Council, told a seminar at Renmin University in Beijing on Wednesday. He said that setbacks in high-stakes trade negotiations were normal and drew parallels with two companies negotiating a merger. He said the two leaders of the negotiating teams, Chinese Vice-Premier Liu He and US Trade Representative Robert Lighthizer, were like two chief executives who "have reached a merger agreement in principle … but not so detailed." Continuing the analogy, Allen said: "They told their lawyers go and write down the agreement. When the lawyers came back with the agreement, they said 'oh my god, that's not what we agreed.' "This is quite normal in trade negotiations, in any negotiation. You can reach an agreement in principle, but the actual details are much more difficult," he said.