Promised for mid-November, reports this week suggest an agreement and signing of the so-called phase one trade deal with China faces delays until mid-December.
However, China maintains that the talks are on track. A Chinese government spokesperson told reporters this week “China is willing to work with the United States to resolve each other’s core concerns,” adding the “external rumors” regarding the unraveling of the agreement are not true.
China has invited the United States to Beijing for talks, possibly next week before the Thanksgiving holiday. Chinese officials suggested the deal could be signed in early December. Despite the claims by China, markets appear to sluggish on any trade news, seemingly growing tired of delayed promises of agreements and little progress.
President Donald Trump says the phase-one agreement would include $40-50 billion worth of U.S. ag trade to China over a two-year period. U.S. farm exports to China reached nearly $20 billion before the trade war began, but since fell roughly 50 percent.