Chinese Vice Premier Wang Yang. Photo: Reuters/Nicolas Asfouri

At a luncheon on Tuesday ahead of the first US-China Comprehensive Economic Dialogue being held this week in Washington, leaders from both countries affirmed the positive tone the two countries have struck since Donald Trump took office.

After Donald Trump’s November election, “many kept their fingers crossed, worrying that China-U.S. trade relations would enter a stormy…winter and even run the risk of a trade war,” Chinese Vice Premier Wang Yang was quoted by the Wall Street Journal as saying at the luncheon.

“Our economic teams have built mutual trust…featuring mutual respect and win-win cooperation,” Mr. Wang said.

“Even though we may occasionally disagree on individual items, we have fundamental shared objectives,” US Commerce Secretary Wilbur Ross said at the event. “Our working relationship is better today than it has been in many decades.”

The US Chamber of Commerce, representing the sentiment of many US businesses operating in China, urged the White House to push for more broad-ranging concessions in a report released to Trump officials in advance of this weeks talks.

“A good start,” the report said of progress so far, but added “additional near-term outcomes need to be more far-reaching in scope and benefit.”