China: Phase One Delays Continue, but Talks on Track

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 early- to mid-December. China has invited the United States to Beijing for talks, possibly next week before the Thanksgiving holiday.

A Chinese government spokesperson told reporters this week, “China is willing to work with the United States to resolve each other’s core concerns,” saying the rumors regarding of the agreement unraveling are not true.

Despite the claims by China, markets appear to sluggish on any trade news, seemingly growing tired of delayed promises of agreements.

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.