The Chinese government is pessimistic that a trade agreement can be concluded with the United States, reports the American television channel CNBC on Monday based on an anonymous government source.

Allegedly, the government of the East Asian country would wait for a redress procedure for US President Donald Trump or new elections in the US.

Both parties have already indicated that they are close to a first part of an agreement. But China wants Trump to scrap already set rates and this is not an option for the US president.

This weekend, the Chinese Ministry of Commerce stated that the Chinese Deputy Prime Minister had spoken with the US Treasury Secretary and that the talks were "constructive."