Daily Management Review

US & China Will Declare New Place For Trade Deal Signing, Says Trump


10/31/2019




US & China Will Declare New Place For Trade Deal Signing, Says Trump
A new venue where the United States President Donald Trump and Chinese President Xi Jinping will sing the so called ‘phase one’ of the trade deal between the two countries would soon be announced by China, Trump said on Thursday.
 
The Asia-Pacific Economic Cooperation summit that was scheduled to be held in Santiago in on November 16 and 17 has been cancelled by the Chilean government and it was there that the leaders of the two countries were slated to sign the initial trade agreement on the sidelines of the summit. The summit was cancelled because of continued mass protests in the country as well as in its capital Santiago and the government had to declare a state of emergency in multiple cities of the country.
 
The US and China have been engaged in a long drawn and acrimonious trade war and both the countries plan to  move forward on a comprehensive trade deal following this ‘phase one’ singing.
 
“China and the USA are working on selecting a new site for signing of Phase One of Trade Agreement,” Trump said on Twitter. “The new location will be announced soon. President Xi and President Trump will do signing!”
 
No specific information was offered by Trump about when a new meeting might be set. The White House said on Wednesday that the deal would be finalized “within the same time frame.”
 
Both the countries will continue with the bilateral talks as planned and the top negotiators of both the countries will be talking over the phone about the trade deal on Friday, China’s commerce ministry said in a statement on Thursday.
 
Trade negotiators of both the countries have been working hard and fast to complete and finalize the text of the “phase one” of the trade agreement so that Trump and Xi could sign the deal next month. This process has been clouded by the demands of the Trump administration from China for a timetable from China about its plans for purchasing agricultural products from the US. 
 
Discussions with China had been productive and both the sides were working hard to finalizing the text of the deal, US Treasury Secretary Steven Mnuchin told the media while he was traveling in the Middle East.
 
The negotiations were progressing well, China’s commerce ministry also said on Thursday.
 
According to reports, alternative locations in the US could be offered by the White House for the singing of the deal with China. Sources reportedly said that the locations that could be acceptable to China would include Alaska and Hawaii.
 
Reports also said that China could also suggest Macau as a possible alternative venue.
 
(Source:www.reuters.com)






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