Chinese President Xi Jinping’s chief trade negotiator will travel to Washington early next week to sign a phase-one trade deal with the US, China’s Commerce Ministry said on Thursday, the first official confirmation by Beijing on the signing of an agreement that could help ease bilateral tensions, reported the Wall Street Journal.
The Chinese delegation, to be led by Vice Premier Liu He, will visit Washington from Monday to Wednesday, Commerce Ministry spokesman Gao Feng said at a weekly briefing.
“Phase one is a big, big number. It is a big percentage of the deal,” President Trump told reporters Thursday at the White House. “It’s pretty much all for the farmers.” The president added that work would soon begin on the second phase of a trade deal with China but that he doesn’t expect a resolution until after the November presidential election.
“We’ll start right away negotiating phase two. It will take a little time,” Trump said. “I think I might want to wait to finish it until after the election because by doing that I think we can actually make a little bit better deal, maybe a lot better deal.”