President Trump says negotiations for the so-called phase one of the United States' trade deal with China were “ahead of schedule”
President Donald Trump said Monday that negotiations for the so-called phase one of the United States' trade deal with China were “ahead of schedule.”
“We are looking probably to be ahead of schedule to sign a very big portion of the China deal, and we’ll call it phase one but it’s a very big portion,” Trump said. “That would take care of the farmers. It would take care of some of the other things. It will also take care of a lot of the banking needs.”The comments come ahead of Trump’s meeting with Chinese President Xi Jinping for the Asia-Pacific Economic Cooperation summit in Chile on Nov. 16-17.
The Office of the U.S. Trade Representative released a statement following the call, noting that both parties “made headway on specific issues.” It was announced earlier this month that Beijing would buy $40 billion to $50 billion worth of U.S. agricultural products, in exchange for a stop on the United States' scheduled Oct. 15 tariff increase. Officials, however, have left open the potential for a tariff increase Dec. 15.
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