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China reports ‘consensus on principles’ in trade talks

Chinese officials are reporting more progress towards finalizing the “phase one” trade deal with the U.S.

China says its Vice Premier Liu He had a phone conversation with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Friday, during which they addressed core concerns and reached “consensus on principles”.  The two sides also discussed plans for the next round of talks.

President Trump and Chinese president Xi are expected to sign the limited agreement sometime this month. The two sides will have to agree on a new location for the signing after an economic summit in Chile was canceled due to widespread protests in that country.

Administration officials have said that agricultural issues are the main focus of the phase one agreement.