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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.

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