"Had a very good talk with President Xi of China concerning our giant Trade Deal. China has already started large scale [purchases] of agricultural product [and] more. Formal signing being arranged. Also talked about North Korea, where we are working with China [and] Hong Kong (progress!)," the president tweeted.
His tweet came after the two countries agreed to a "Phase One" trade deal on Dec. 13 that would reduce tariffs on some Chinese goods and could be a boon to American farmers who have been hard hit by the 19-month trade war.
Phase One includes an agreement from China to buy $50 billion worth of U.S. agricultural products, Trump said during a Friday press briefing. But other sources say the number could be lower at around $32 billion over two years.
Treasury Secretary Steve Mnuchin said the two countries could sign the first phase of the deal as soon as January.
"It’s just going through what I would consider to be a technical, legal scrub, and we’ll be releasing the document and signing it in the beginning of January," Mnuchin told reporters Thursday.