Phase One trade deal with China would be signed 'very shortly': Donald Trump

WION Web Team New Delhi, India Dec 22, 2019, 05.20 PM(IST) Edited By: Sparshita Saxena

File photo: US President Donald Trump. Photograph:( Reuters )

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This comes after Trump, on Friday, held a telephonic conversation with Chinese President Xi Jinping and tweeted out saying that the two leaders had a 'very good talk'. 

US President Donald Trump on Saturday said that the 'Phase One' trade deal with China would be signed "very shortly".

Trump's remarks came during an event in Florida.  

"We just achieved a breakthrough on the trade deal and we will be signing it very shortly," Trump said at the event as reported by news agency Reuters. 

This comes after Trump, on Friday, held a telephonic conversation with Chinese President Xi Jinping and tweeted out saying that the two leaders had a "very good talk". 

"Had a very good talk with President Xi of China concerning our giant Trade Deal. China has already started large scale purchases of agricultural product & more. Formal signing being arranged. Also talked about North Korea, where we are working with China, & Hong Kong (progress!)," Trump's tweet read. 

US-China 'Phase One' deal was announced earlier this month as part of a bid to end the months-long tit-for-tat trade war between the world's two largest economies, which has roiled markets and hit global growth.

Under the deal, the United States would agree to reduce some tariffs in exchange for a big jump in Chinese purchases of American farm products.

(With inputs from Reuters)