US President Donald Trump said China has signaled that\nnegotiations on the initial trade deal are progressing, raising expectations\nthat world leaders could sign an agreement at a meeting next month in Chile.<\/p>\n\n\n\n
“They have started the buying,” Trump said Monday\nat a White House cabinet meeting, referring to Chinese purchases of US\nagricultural products set by the president as part of the deal. “I want\nmore.”<\/p>\n\n\n\n
Earlier in the day, Commerce Secretary Wilbur Ross said it\nwas more important to get the details of the agreement correctly than Trump\nsigning it at a meeting with Chinese President Xi Jinping next month in Chile.<\/p>\n\n\n\n
Asian stocks rose on Tuesday after US stocks advanced as\npositive indicators for trade talks and before earnings reports from some of\nthe world’s largest companies. S&P 500 futures, also recorded gains.<\/p>\n\n\n\n
Ross also told Fox Business Network that the actual details\nof the agreement will come in two additional phases that have not yet been\ncompleted. While the White House announced a tentative agreement earlier this\nmonth, Beijing officials have yet to confirm anything.<\/p>\n\n\n\n
US officials said China would significantly increase\npurchases of US agricultural goods and approve some intellectual property,\nfinancial services and currency concessions. In contrast, the US stopped tariff\nincreases due to damage in mid-October just before the Christmas shopping\nseason.<\/p>\n\n\n\n
The deal represents a possible halt to the 18-month-old\ntrade war that has hurt both countries’ economies, but disrupts the radical\nreform of Trump’s Chinese economic policy. The agreement does not address\nHuawei Technologies, which has sought a global effort to sign 5G commercial\ncontracts even as the United States seeks to persuade other countries to\nblacklist the company.<\/p>\n","protected":false},"excerpt":{"rendered":"
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