MNI POLICY: U.S. and China Make 'Headway' on Phase One Deal

-- Principal-Level Talks to Continue in 'Near Future'

By Evan Ryser

     WASHINGTON (MNI) - The U.S. and China made progress in trade discussions

and have come close to finalizing some sections of a Phase One agreement, the

Office of the U.S. Trade Representative said Friday. 

     "United States Trade Representative Robert Lighthizer and Treasury

Secretary Steven Mnuchin spoke today with China's Vice Premier Liu He on Phase

One of the U.S.-China trade agreement," a statement released by the agency said.

     "They made headway on specific issues and the two sides are close to

finalizing some sections of the agreement. Discussions will go on continuously

at the deputy level, and the principals will have another call in the near

future." 

     The two sides are working to try to agree a text for a Phase One trade

agreement, announced by President Donald Trump on Oct. 11, in time for

signatures at next month's APEC summit in Chile. 

     Trump agreed to cancel an Oct. 15 increase in tariffs on $250 billion in

Chinese goods in return for agricultural purchases, access to China's financial

services markets, intellectual property rights protections, and an agreement on

currency.

--MNI Washington Bureau; +1 202 371 2121; email: evan.ryser@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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