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American companies would suffer most from a trade war between the US and China, premier Li Keqiang told reporters at a press conference.

“If there was a trade war between China and the United States, the worst impacted would be foreign invested companies, in particular US companies,” Mr Li told reporters at an annual press conference, citing a report from an “authoritative” think tank which he did not name, writes Tom Hancock in Shanghai.

“We don’t want to see a trade war,” Mr Li added.

Asked about a string of combative statements made by US President Donald Trump. Mr Li said that he was optimistic about US-China relations and welcomed Mr Trump’s recent embrace of the “One China Policy”.

The policy is the “political foundation of China US relations,” Li said, adding: “With that foundation in place there are good prospects for China US cooperation”.

Mr. Trump is set to hold his first summit with China’s President Xi Jinping next month.

Copyright The Financial Times Limited 2018. All rights reserved.

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