U.S.-China deal may not be ready to sign: source

Video Credit: Reuters Studio
Published on October 30, 2019 - Duration: 01:09s

U.S.-China deal may not be ready to sign: source

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.

Ryan Brooks reports.

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U.S.-China deal may not be ready to sign: source

Part one of a trade deal between the U.S. and China - may not be ready to sign next month.

That's what one U.S. administration official told Reuters Tuesday (October 29).

But they did warn this doesn't mean the deal will fall apart.

Negotiators are working to finish something for Presidents Donald Trump and Xi Jinping to agree on at the APEC summit in Chile.

After a nearly 16-month trade war, top U.S. officials have recently said the deal is on track.

President Trump said this days ago: (SOUNDBITE) (English) U.S. PRESIDENT DONALD TRUMP, IN AN EXCHANGE WITH A REPORTER, SAYING: "So, we're about, I would say, a little bit ahead of schedule; maybe a lot of ahead of schedule.

Probably we'll sign it--, I imagine the meeting is scheduled for Chile.

I know they have some difficulties right now in Chile.

But, I know the people in Chile and I'm sure they'll be able to work it out." A White House spokesman said both sides were still working to finish work on the deal.

When Trump announced this so-called 'Phase One' promising relief for companies caught up in the trade standoff.

On Tuesday U.S. stocks pulled back from record highs after Reuters reported on the official's comments that a deal was further off.

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