Trump says US and China will announce new location to sign mini trade deal ‘soon’
President Donald Trump struck an optimistic tone toward US trade progress with China on Thursday.
That came after doubts reemerged over the prospect of a comprehensive deal between the largest economies.
“President Xi and President Trump will do signing!” Trump wrote on Twitter.
President Donald Trump struck an optimistic tone toward US trade progress with China on Thursday after doubts reemerged about the prospect of a comprehensive deal between the largest economies.
The president emphasized that the two sides still planned to meet despite the recent cancellation of an Asia-Pacific trade summit, where the first stage of a partial trade agreement had originally been expected to be finalized.
“China and the USA are working on selecting a new site for signing of Phase One of Trade Agreement, about 60% of total deal, after APEC in Chile was canceled do to unrelated circumstances,” the president wrote on Twitter. “The new location will be announced soon. President Xi and President Trump will do signing!”
The Trump administration stalled planned tariff escalations in mid-October as it announced a “phase one” agreement with China, which Trump said included a variety of unspecified commitments on technology rules and agricultural purchases.
That portion of the agreement is still expected to be signed “within the same time frame” despite the Asia-Pacific Economic Cooperation summit cancellation, according to White House spokesperson Hogan Gidley.
But since the US-China détente this month, broader concerns have surfaced over whether a comprehensive trade deal could be reached. China has not confirmed some of the core commitments the Trump administration announced, highlighting what have remained sticking points since the start of negotiations in 2018.
