Chinese President Xi Jinping said Friday that China and the U.S. have made important progress in trade talks held in Beijing and that negotiations will continue next week in Washington.

According to China's state-run Xinhua news agency, Xi made the remarks while meeting with U.S. Trade Representative Robert Lighthizer and other U.S. and Chinese officials after the talks were concluded.

The Chinese leader expressed hope the two sides will reach a mutually beneficial agreement in the remaining negotiations which will continue in Washington.

China and the U.S. have held working-level and senior-level trade talks this past week in Beijing.

This comes less than two weeks before the March first deadline in their 90-day trade war truce.

The two sides are trying to hammer out an agreement before the deadline when U.S. tariffs on 200 billion dollars worth of Chinese imports are scheduled to increase from ten to 25 percent.