China, US set for new deal

China, US set for new deal

China, US set for new deal

In December, the United States and China, made a formal annoucement of the results of their negotiations to date- a Phase One trade deal as part of a larger bilateral trade agreement to help put an end to the ongoing trade war between the two countries.

Liu, China's top negotiator in the trade conflict, will be in the U.S. capital from Monday to Wednesday, the commerce ministry said.

In regular briefings, it had been reported that negotiating teams from both sides were remaining in close communication on the arrangements involving the deal and its signing.

China announced that Vice-Premier Liu He will travel to Washington to sign the first phase of the trade deal with the U.S. next week, locking in Beijing's commitment to a ceremony already announced by President Donald Trump.

The deal aims at de-escalating the trade war between China and US.

Under the "Phase 1" deal, China agreed to buy more American farm exports and Washington postponed additional planned tariff hikes on Chinese imports.

But no version of the text has been made public, and Chinese officials have yet to publicly commit to key points such as increased imports of US goods and services by 200 billion dollars over two years.

Gao declined to comment on the US$200 billion imports of goods and services which the USA said China has agreed to in the deal.

Trump has also reduced or cancelled some tariffs.

This is not inconsistent with expanding agricultural imports from the United States, said Mr Gao.

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