China government advisor said that China will need time to assess the just-signed phase one trade agreement and other complicating factors before launching negotiations with the US for a phase two agreement.

"Given the complexity of the contentious issues that were left out, China may make key judgments about the launch of phase two trade talks by analyzing monumental international issues," an advisor to the Chinese Ministry of Commerce told the Global Times.

The advisor, who spoke on condition of anonymity, specifically mentioned a recent joint statement from the US, the EU and Japan, in which the trio proposed new global trade rules aimed at curbing subsidies. Some analysts have read the move as targeting China.

"China is not in a hurry to commence the next phase of trade talks, which will involve deeper and more ingrained issues. We should therefore move more cautiously and steadily," said Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies

Dong said China may demand that the US roll back all tariffs before it agrees to begin phase two negotiations.