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US President Donald Trump said Monday that he expected a “phase one” trade deal with Beijing to be signed on the sidelines of the November summit in Chile, after an 18-month trade impasse between the two economic giants.
But Chile’s President Sebastian Pinera announced Wednesday that his country could no longer host the event, due to violent unrest in the city.
“Negotiating teams on the Chinese and US sides have continued to maintain close communication, and negotiations are currently making smooth progress,” the Chinese commerce ministry said in a statement Thursday.
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China and the US have exchanged blows for over a year, with tariffs now impacting hundreds of billions of dollars in two-way trade. Now with the 2020 presidential election approaching, and Trump under pressure from the impeachment inquiry in Congress, US trade officials have focused on getting a partial deal in the books.
China’s Commerce Ministry said on October 26 that both sides had agreed to “properly address each other’s core concerns.