China’s Vice-Premier Liu He, who is also the chief negotiator for trade talks with the US, will lead a delegation to Washington this weekend, during which he is expected to sign a phase one deal to significantly de-escalate the trade war between the two biggest global economies, a media report said on Monday.
“Washington has sent an invitation and Beijing has accepted it,” Hong Kong-based South China Morning Post quoted a Chinese official as saying. The Chinese delegation, headed by Liu, which would leave on Saturday is expected to stay “a few days” in the US, the report said.
However, neither side has officially confirmed the trip.
China’s Ministry of Commerce was not immediately available for comment.
The signing of a phase one deal during Liu’s trip would mark a point of truce in the ongoing bitter trade war between the world’s two biggest economies. On December 13, China and the US have agreed on the text of a phase one economic and trade agreement to end the 18-month-long bruising trade war.
According to an official statement, both the sides have agreed to complete their necessary procedures, including legal review, translation and proofreading, as soon as possible and discuss the detailed arrangements for officially signing the agreement.
Chinese Vice Commerce Minister Wang Shouwen had announced that a breakthrough in the trade negotiations has been reached for a phase-one deal.
