Trump Reaches ‘Phase One’ Deal With China and Delays Planned Tariffs – The New York Times
Mr. Trump, who just weeks ago said he was looking for a âcompleteâ China deal, said that the two sides would now break the agreement into phases.
âItâs such a big deal that doing it in sections, in phases, is really better,â Mr. Trump said during a meeting with Liu He, Chinaâs vice premier. âSo youâll either have two phases or three phases.â
The first phase could be signed when Mr. Trump appears alongside his Chinese counterpart at a meeting of global leaders in Santiago, Chile, in November. The next phase would begin soon after, Mr. Trump said.
Despite the announcement, the deal has not been finalized and Steven Mnuchin, the Treasury secretary, said that more work remained.
âWe have a fundamental agreement on the key issues,â Mr. Mnuchin said. âBut there is a significant amount of work to do.â