US President Donald Trump said today that he will "soon" announce a new place for the signing of the "first phase" of the trade agreement with China, where he will meet with his Chinese counterpart, Xi Jinping, after the surprise cancellation of the APEC summit in Chile.
"China and the US are working to select a new place for the signing of Phase One of the Trade Agreement, around 60% of the total, after APEC in Chile was canceled due to unrelated circumstances," Trump said in Your Twitter account
"The new place will be announced soon. President Xi and President Trump will stamp their signatures."RELATED
Trump was scheduled to meet and seal the agreement with his Chinese counterpart during the leaders summit of the Asia-Pacific Economic Cooperation Forum (APEC) to be held in Santiago, Chile on November 16 and 17.
However, Chilean President Sebastián Piñera announced Wednesday that Chile will no longer organize the APEC leaders summit or COP25 due to the protests and demonstrations that have been registered in the country for thirteen days.
Trump said Monday that the first phase of the trade pact with China could be signed "ahead of schedule," although Washington and Beijing are still negotiating the terms of that arrangement.
Last week, US negotiators said they were "close to concluding some sections" of the agreement, but they definitely did not guarantee that it would be ready for the APEC summit.
Trump described the pact as the "first phase" in a process that can be developed in up to three stages, and set aside his plans to raise tariffs on imports from the Asian giant.
For its part, China promised to increase its purchases of US agricultural products to reach between 40,000 and 50,000 million dollars, a figure that, according to Trump, is between "2.5 and 3 times higher" than what Beijing had bought up now at its peak, "when it touched the $ 17,000 million.
The International Monetary Fund (IMF) has warned of the global effects of the trade dispute between the two economic giants, and has lowered growth forecasts for both the US. like from China for this year and next.