President Donald Trump is expecting a trade deal between the United States and China to be signed in mid-November when he meets Chinese leader Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) in Chile, Reuters reported.
Speaking to reporters at the White House on Friday, Oct. 18, President Trump said he thinks a deal “will get signed quite easily, hopefully by the summit in Chile.” The two leaders are expected to attend the summit.
The APEC Economic Leaders’ summit is scheduled to take place in Santiago Chile on Nov. 16 and 17.
“We’re working with China very well,” President Trump told reporters.
In mid-October, the United States and China reached their tentative agreement that President Trump called a “phase one deal” after Chinese Vice Premier Liu He—its top negotiator—visited Washington to start the 13th round of trade talks.
Under that in-principle agreement, China agreed to buy up to $50 billion of U.S. farm products annually, while the United States agreed not to raise tariffs from 25% to 30% on $250 billion worth of Chinese goods, which was initially set to take effect on Oct. 15.
The White House reported that the two sides made progress on some issues, including China’s lax protection of foreign intellectual property.
Reuters, citing U.S. officials, said a second phase of negotiations could address thornier issues like forced technology transfer and nonfinancial services issues.