First part of US-China trade deal could be delayed until December, report says
- The US and China could delay plans to finalize the first part of an agreement to defuse trade tensions until December.
- Reuters reported Wednesday that an expected meeting between Trump and Chinese President Xi Jinping could be pushed back as the two sides continue to negotiate a venue and terms of a deal.
- Dozens of venues for a meeting are said to be under consideration, including in Asia and Europe.
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The US and China could delay plans to finalize the first part of an agreement to defuse trade tensions until December.
President Trump has said he planned to sign a so-called "phase one" agreement this month. But Reuters reported Wednesday that an expected meeting between Trump and Chinese President Xi Jinping could be put off until next month as the two sides continued to negotiate a venue and terms of a deal.
Trump recently suggested that he and Xi could sign the first part of the deal in Iowa, where officials have been in touch with the White House about such a proposal. But that has been ruled out, according to a senior administration official who spoke to Reuters on the condition of anonimity. Dozens of other meeting venues in Asia and Europe are said to be under consideration.
In October, the White House announced that it would delay planned tariff escalations as part of an agreement that included a range of unspecified commitments from China. But the fate of those terms, which have not yet been put to paper, were uncertain after Chile canceled a pair of global summits where Trump and Xi were expected to meet this month.
White House spokesperson Hogan Gidley said just last week that the first stage was still expected to be signed "within the same time frame," despite the Asia-Pacific Economic Cooperation summit cancellation. The White House did not immediately respond to an email requesting comment on a potential delay.
Broader concerns have surfaced over whether a comprehensive trade deal could be reached anytime soon. Peter Navarro, a White House trade adviser, said this week that two more stages of an agreement would be needed to address structural issues in China.