Ross Optimistic U.S. Will Reach Phase One Agreement with China

Commerce Secretary Wilbur Ross seems confident the U.S. and China will reach a “phase one” agreement this month on trade. Speaking at the Association of Southeast Asian Nations, Ross said the U.S. and China are “making good process,” according to Bloomberg News.

Ross wouldn’t say whether the U.S. would halt new tariffs on China planned in December. China has asked the U.S. to suspend the December round of tariffs, as a condition of signing the phase one agreement.

He added that Iowa, Alaska, Hawaii and locations in China were all possible places for Trump and Xi Jinping to sign the deal after  Chile canceled the Asia-Pacific Economic Cooperation summit. The two leaders were expected to sign the agreement during the event in Chile later this month. President Donald Trump told reporters that if an agreement is reached, it would be signed somewhere in the United States.

On Monday China offered little comment regarding a location to sign the agreement, only to say the U.S. and China are in constant communication.