Chinese Vice Premier Lieu He said on Saturday that US and China have made “substantial progress in many fields” in trade negotiations earlier this month. And, that laid an “important foundation for the signing of a phased agreement”. He added that “China and the US can meet each other half way, based on equality and mutual respect, addressing each other’s core concerns, striving to create a good environment and achieving both sides’ common goals.”
It’s believed that teams from both sides are working towards the deadline of APEC meeting in Chile on November 16-17. Presidents from both countries could make use of the opportunity to side the phase one of the trade agreement. However, at this point, intellectual property protections, currencies and financial services are expected to be covered. But the depth of the agreement is uncertain. Some speculated that it could be “super light” for rebuilding trust first.
