An interim trade agreement between the United States and China might not be comp...
WASHINGTON - An interim trade agreement between the United States and China might not be completed in time for signing in Chile next month as expected but that does not mean the accord is falling apart, a U.S. administration official said on Tuesday.
“If it’s not signed in Chile, that doesn’t mean that it falls apart. It just means that it’s not ready,” the administration official said. “Our goal is to sign it in Chile. But sometimes texts aren’t ready. But good progress is being made and we expect to sign the agreement in Chile.” “As the president said several weeks ago, we have reached a phase-one agreement with the Chinese and both sides are working to finalize the text for a signing in Chile,” he said.
The South China Morning Post, citing a person briefed on the arrangements, reported early Tuesday that the leaders of the world’s two largest economies were tentatively slated to sign the interim trade deal on Nov. 17 “if everything goes smoothly.” “I think people understand the president, that he’s firm. They know that he’s going to make the decisions that he thinks are right, and I think ultimately that we’ve come to an understanding with China now on where we want to head,” he said.
Jude Blanchette, a fellow at the Center for Strategic and International Studies, said the phase one deal was restoring the status quo to where it stood before the trade war began in 2017, calling into question how much progress had actually been made.
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