US-China Trade Deal Delayed To December Over Venue: 'Nothing Decided'

Despite the enthusiasm of the Trump administration to sign a phase one trade deal with China, reports said the deal could be delayed until December as consensus eludes on the pact’s terms and a possible venue for signing the deal.

A senior official of the Trump administration also told Reuters on anonymity that there is also a chance that the “phase one” agreement may not be reached.

However, at the moment prospects of a deal are looking bright.

White House spokesman Judd Deere said, “Negotiations are continuing and progress is being made on the text of the phase one agreement.”

Earlier, the meeting of leaders was planned on the sidelines of the mid-November summit of Asia-Pacific leaders in Chile, the official said. But the event was canceled.

London is also being suggested as a possible venue for two leaders to meet. Trump is likely to attend a NATO summit from Dec. 3-4, the official said.

“It’s under consideration but nothing decided,” the official added. Iowa, mooted by Trump has been ruled out, per China news.

Phase one deal likely to scrap December tariffs on China

The interim China trade deal was expected to cover a U.S. pledge to scrap tariffs coming up on Dec. 15 binding $156 billion worth of Chinese imports, including cell phones, laptops, and China toys that are as much familiar as Toys R Us.

China’s embassy in Washington did not react to the new report.

Although China wok brims with demands seeking scrapping of all tariffs, the report said, it is unlikely to derail the interim deal.

China still sees a quick deal is advantageous for it to obtain favorable terms, given the pressure faced by Trump from the impeachment inquiry on the eve of the 2020 election.

Trump also wants a mini deal to boost purchases of U.S. agricultural goods and make the farmers' constituency happy to shore up his re-election chances.

There was notable Trump news when the President assured farmers at an American Farm Bureau Federation event that “we’re doing trade deals that are going to get you so much business.”

EU moves closer to China

Meanwhile, the recent visit of France's President Emmanuel Macron to China showed how European Union leaders are looking comfortable with China than Washington when it comes to broaching global issues.

Macron discussed issues such as climate change, trade tensions and Iran's nuclear ambitions with China.

At an event in Shanghai, the President of China also tasted French wines and beef while Macron pitched for opening of the Chinese market for European products. Total wine is a famous counterpart in the U.S.

France and China also issued a “Beijing call” seeking increased global cooperation in fighting climate change and protecting biodiversity while deploring the U.S. pullout from the climate treaty.

Macron, calling himself the envoy of the whole of the European Union sought to send out a message that the EU bloc is not looking up to Trump who is not championing multilateralism, per media reports.