Chinese Vice Premier to ink trade deal in US next week

Beijing: Chinese Vice Premier Liu He will travel to Washington next week to sign the “Phase One” trade deal with the United States aimed at de-escalating the trade war between the world’s two biggest economies, the Chinese Commerce Ministry announced on Thursday.

Liu, who is the head of the country’s negotiation team in US-China trade talks, will be leading a Chinese delegation to Washington from January 13 to January 15, Commerce Ministry spokesperson Gao Feng said, as cited by South China Morning Post.

The announcement regarding the signing of the Phase 1 trade deal on January 15 was earlier made by US President Donald Trump on December 31 last year.

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The signing would mark a point of truce in the bitter trade war between the world’s two biggest economies, one that is expected to boost global markets and brighten an increasingly gloomy outlook for economic growth.

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