Markets

Vice Premier Liu He to sign 'phase one' trade deal in Washington this week, Chinese media says

Key Points
  • The South China Morning Post said Beijing has accepted the U.S. invitation for a deal signing in Washington.
  • The newspaper, citing a source briefed on the matter, said the Chinese delegation will stay in the U.S. for a few days until the middle of next week.
US Treasury Secretary Steven Mnuchin (R) and US Trade Representative Robert Lighthizer (L) greet Chinese Vice Premier Liu He (C) as he arrives for trade talks at the Office of the US Trade Representative in Washington, DC, October 10, 2019. (
Saul Loeb | AFP | Getty Images

Chinese Vice Premier Liu He, that nation's top trade negotiator, will visit Washington this week to sign the "phase one" trade deal with the U.S., the South China Morning Post reported Monday.

The newspaper, citing a source briefed on the matter, said Beijing has accepted the U.S. invitation for a deal signing in Washington, and the Chinese delegation will stay in the U.S. for a few days until the middle of next week. The South China Morning Post is run by Alibaba but is often criticized for being biased in favor of the state.

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The two countries have been working on translating and formalizing the partial agreement since earlier this month. The phase one trade deal includes some tariffs rollback and increased agricultural purchases from China.

White House trade advisor Peter Navarro told Fox News on Monday that the signing will likely happen within next week or so with both sides waiting for the translation.

President Donald Trump said last week that the deal is "getting done," adding that there will "ultimately" be a signing ceremony with Chinese leader Xi Jinping.

U.S. Trade Representative Robert Lighthizer previously said the two countries were aiming to sign the deal in the first week of January in Washington at the ministerial level and would not involve Trump and Xi.