Trump hopes US-China trade deal will be signed by Nov 16

US President Donald Trump yesterday said he thinks a trade deal between the United States and China will be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on Nov 16 and 17.

Chinese Vice Premier Liu He will provide Beijing's perspective on the progress of the talks in a speech today, according to a tweet from the editor-in-chief of the Global Times, a tabloid published by the People's Daily of China's ruling Communist Party.

"I think it will get signed quite easily, hopefully by the summit in Chile, where President Xi and I will both be," Trump told reporters at the White House, without providing details.

"We're working with China very well," Trump also said.

The White House has announced that China agreed to buy up to US$50 billion of US farm products annually, as part of the first phase of a trade deal, although China seems slow to follow through.

The so-called phase 1 deal was unveiled at the White House last week during a visit by vice-premier Liu as part of a bid to end a tit-for-tat trade war between Beijing and Washington that has roiled markets and hammered global growth.

US officials said the second phase of negotiations could address thornier issues like forced technology transfer and non-financial services issues.

- Reuters