U.S, China to finalize phase one of trade deal

U.S, China

The Office of the U.S Trade Representative says the United States and China are close to finalizing sections of a phase-one trade deal.

The U.S. Trade Representative’s office and China’s Commerce Ministry further said, talks between both countries would continue.

“They made headway on specific issues and the two sides are close to finalizing some sections of the agreement. Discussions will go on continuously at the deputy level, and the principals will have another call in the near future,” a statement said.

Washington and Beijing are working to agree on the text for a “Phase 1” trade agreement announced by U.S. President Donald Trump on Oct. 11.

Meanwhile, Trump has said he hopes to sign the deal with China’s President, Xi Jinping next month at a summit in Chile.

In a separate statement posted on China’s Ministry of Commerce website on Saturday morning, Beijing confirmed “technical consultations” on some parts of a trade agreement were basically completed.

Peace PIAK