‘Signing summit’ with Xi for U.S.-China deal possible soon: Donald Trump

Vastavam web: U.S. President Donald Trump said on Monday he may soon sign a deal to end a trade war with Chinese President Xi Jinping if their countries can bridge remaining differences, saying negotiators were “very, very close” to a deal. Markets rallied after Trump said on Sunday he would delay an increase in U.S. tariffs on $200 billion of Chinese goods and extend his March 1 deadline for a deal. Trump’s decision avoided another escalation in a trade war between the world’s two largest economies that has cost both countries billions of dollars and roiled global financial markets.

“We’re going to have another summit, we’re going to have a signing summit,” Trump told a gathering of U.S. governors on Monday. “So hopefully, we can get that completed. But we’re getting very, very close,” said Trump, who left later for Vietnam and a second summit with North Korean leader Kim Jong Un. U.S. and Chinese negotiators met in Washington through the weekend, working toward a deal that would end a tit-for-tat tariff battle that began in mid-2018.

It remains unclear how long the tariff increase would be delayed. A spokeswoman for the U.S. Trade Representative’s Office said the agency had no announcements at this time beyond the president’s remarks.