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Chinese Ambassador to the United States Cui Tiankai said here Friday that the trade imbalance between China and the United States cannot and will not last in the long run.

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The United States and China have agreed to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington's drive to cut its trade deficit with Beijing.

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Exploratory free trade talks are underway this week as Canadian and Chinese officials visit one another's countries to discuss what a potential agreement might look like.

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Top diplomats from the EU and China have pledged closer cooperation on trade and geopolitical issues amid concerns about US protectionism under president Donald Trump.

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