Official: ‘Millimetres’ separate US, China from phase one trade deal
- Senior White House official’s comments add to growing confidence two sides will reach a preliminary agreement after the Thanksgiving holiday weekend
- Donald Trump has been pushing Beijing to agree to buy substantial quantities of US agricultural products
This story is published in a content partnership with POLITICO. It was originally reported by Adam Behsudi and Ben White on politico.com on November 27, 2019.
A preliminary trade deal between the United States and China is “millimetres away”, a senior administration official said on Wednesday.
The comments add to the growing optimism that the US and China can announce a so-called phase one agreement soon after the Thanksgiving holiday weekend.
US President Donald Trump has been pushing for a deal that would force Beijing to purchase significant amounts of agricultural goods after American farmers in the Midwest have been battered by Chinese retaliation during a nearly two-year trade war.
An initial trade deal could also involve a rollback of tariffs that Trump has slapped on roughly US$360 billion worth of Chinese goods. Another round of duties is scheduled to hit US$160 billion worth of Chinese imports, including consumer goods like laptops and smartphones, on December 15.