US-China Trade Deal: Latest Developments
US-China trade tensions have not yet abated entirely, even as US President Donald Trump expressed hope that the Phase 1 trade deal will be signed between him and Chinese President Xi Jinping in November. However, US State Department officials turned their attention on China stating that any officials wishing to visit the US will have to give prior notice, in retaliation to the way US officials are treated by China.
Tensions between the US and China have been high this week after the US House of Representatives passed a legislation to increase scrutiny of China’s actions in Hong Kong, which drew criticism from China’s Foreign Ministry. Senior officials in the US have expressed support for free expression in Hong Kong, further angering China.
US Treasury Secretary Steven Mnuchin confirmed that negotiations were continuing between officials from both sides. He also stated his willingness to travel to Beijing in case China wanted another round of talks before finalizing the terms of the deal.
US President Donald Trump and his Chinese counterpart Xi Jinping are expected to meet in Santiago, Chile during the Asia Pacific Economic Cooperation summit on November 16 and 17. Mnuchin was hopeful that the trade deal could be signed by the leaders at the APEC summit and hinted that the high-level trade teams could also travel to Chile for this to happen.
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