U.S. negotiators have reached the terms of a phase-one trade deal with China that now awaits President Donald Trump’s approval, according to people briefed on the plans, Bloomberg News reports.
Trade advisers are set to meet with the president at 2:30 p.m. to discuss the agreement. An announcement could come as soon as this afternoon, the people said. A White House spokesperson declined to comment.
President Donald Trump said the U.S. and China are very close to signing a “big” trade deal, sending stocks to new records on expectations that a tariff increase planned for Sunday will be called off while talks progress.
“They want it, and so do we!” he tweeted five minutes after stocks opened in New York.