US-China trade deal near, but Trump not signing yet

Wall Street investors and business owners are waiting and watching for the latest on a trade deal between the U.S. and China.

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A deal is near, but President Trump isn’t ready to sign off, according to the Wall Street Journal.

White House economic adviser Larry Kudlow spoke Thursday at an event held at the Council on Foreign Relations.

Negotiators have been working to come up with the details and language that both sides can agree to in a phase one deal.

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Details include Beijing agreeing to buy American farm products and the U.S. would agree to roll back tariffs.

The initial hopes were for Trump and Chinese President Xi Jinping to sign the agreement this month at the Asia-Pacific Economic Cooperation summit in Chile, but the summit was canceled because of rioting there.

Mr. Trump has said that China has agreed to buy up to $50 billion in U.S. farm goods annually, but The Wall Street Journal has reported that China was balking at a specific dollar commitment.

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The Chinese Commerce Ministry said on Thursday that a roll back of the tariffs are important to getting the phase one deal done.