US-China trade deal may not be ready to be signed in Chile, official says

An interim trade agreement between the United States and China may not be completed in time for signing in Chile next month, as expected, but that does not mean the deal is falling apart, a US government official said on Tuesday.

US President Donald Trump and Chinese President Xi Jinping are expected to sign “phase one” of the trade agreement at the Asia-Pacific Economic Cooperation (APEC) summit next month in Chile, but the date is still flexible, said the official.

“If it is not signed in Chile, that does not mean it will fall apart. It just means it’s not ready,” said the government official. “Our goal is to sign it in Chile. But sometimes the texts are not ready. But good progress is being made and we look forward to signing the agreement in Chile.”

Trump, US Treasury Secretary Steven Mnuchin, and White House economic adviser Larry Kudlow said good progress was being made on the deal after a nearly 16-month trade war and noted that there would be no problem if the deal is not finalized until the APEC summit.

On Monday, Trump said he expected to sign a significant portion of the trade deal with China at the Chile summit, but did not give details of a timetable.

Source: Reuters

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