Trump says `phase 1` China trade pact on track for November

Remigio Civitarese
Ottobre 22, 2019

Prices of the safe-haven gold prices inched down on Tuesday in Asia as China and the US made some progress on their trade negotiations.

Economic adviser Larry Kudlow, said, "I really like what they're saying on the other side".

Huang Libin, a spokesman for the MIIT, said on Tuesday that China will not close its doors and blindly rely on Chinese-made technology, and it will further open up the telecommunications, internet and auto sectors to foreign investment.

While details are scant, the new mini-deal includes a surge in Chinese purchases of American farm exports and also covers intellectual property, financial services and currency exchange, according to the White House.

"The real question is, do we get to an early signing of phase one?" said Ross, who is not a member of the USA delegation to the trade talks.

The initial US-China trade deal does not need to be finalised next month, the US commerce secretary said today even as President Donald Trump has said he would like to sign the pact when he meet his Chinese counterpart at November's Apec summit. He added that it's more important to have a "proper deal" than an exact date of when it occurs. -China trade talks, and said that tariffs scheduled for December could be withdrawn if negotiations continue to go well.

He said that preventing the trade war from escalating is beneficial to China, the United States and the world at large, which is a shared expectation of producers and consumers.

US officials have said China would significantly increase purchases of American agricultural commodities and agree to some intellectual property, financial services, and currency concessions.

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