A trade agreement could come in weeks, but it won't erase 'contentious' issues, says former diplomat

The United States and China could finalize a trade agreement in a matter of weeks, said Kurt Campbell, chairman and chief executive of advisory firm The Asia Group.

The U.S. and China could reach a trade agreement in a matter of weeks, but that's unlikely to improve relations between the two economic giants over the longer term, according to former U.S. diplomat.

"I think we'll see a deal — I think both countries understand that it's in each of their best interests. I expect something to be done in the next four to six weeks," Kurt Campbell, chairman and chief executive of advisory firm The Asia Group, told CNBC's Martin Soong on Sunday at the China Development Forum in Beijing.

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