Trump expects to sign first phase of China trade deal ‘ahead of schedule’

U.S. President Donald Trump speaks during a meeting with China's Vice-Premier Liu He in the Oval Office on Oct. 11, 2019.U.S. President Donald Trump said on Monday he expected to sign a significant part of the trade deal with China ahead of schedule but did not elaborate on the timing.

“We are looking probably to be ahead of schedule to sign a very big portion of the China deal, we’ll call it Phase One but it’s a very big portion,” he told reporters at Joint Base Andrews before leaving on a visit to Chicago. Leaders of the world’s two biggest economies are working to agree on the text for a “Phase 1” trade agreement announced by Trump on Oct. 11. Trump has said he hopes to sign the deal with China’s President Xi Jinping next month at a summit in Chile.Trump on Monday said the signing was planned for the summit but made a reference to recent political unrest in Chile and said he believed they could work things out.

The U.S. president said the phase one portion would “take care of the farmers” and “also take care of a lot of the banking needs.”Agricultural products are a major area of discussion. Beijing and Washington are trying to calm a nearly 16-month trade war that is roiling financial markets, disrupting supply chains and slowing global economic growth.

globebusiness This isn’t really a trade deal, there are still problems with intellectual property rights, economic piracy and other issues that plague US-China trade. This is just a “deal” to bring things back to 2017 levels. The loss of $1billion in Ag trade in Iowa, alone. What a waste!

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