Trump says signing of China trade deal ‘being arranged’

Trump says signing of China trade deal 'being arranged'

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President Trump said Friday that he spoke with Chinese President Xi Jinping about the “phase one” trade agreement with Beijing and said a formal signing of the deal is “being arranged.”

“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 & more,” Trump tweeted Friday morning. “Formal signing being arranged.”

Trump and his advisers have touted the deal as a major victory and said it will pave the way for a second, more substantial “phase two” trade deal with Beijing.

But the text of it has not yet been released, creating continued uncertainty about its contents. Trump administration officials have said they expect the deal to be signed in early January, at which point it will be released. The Hill’s Morgan Chalfant explains here.

Trump talks trade with Bolsonaro after surprise tariffs: Trump also discussed trade in a call with Brazilian President Jair Bolsonaro after the U.S. abruptly threatened to reimpose steel tariffs on the South American nation.

The background: The president and Bolsonaro have enjoyed a close relationship since the latter took office earlier this year. But Trump appeared to catch Bolsonaro off guard when he announced earlier this month that the U.S. would restore tariffs on steel and aluminum imports from Brazil and Argentina, citing “massive devaluation of their currencies.”

National Economic Council Director Larry Kudlow later said the administration had not made a final decision about imposing the tariffs, even though Trump’s tweet said they were “effective immediately.” The Hill’s Brett Samuels has more on the Trump, Bolsonaro call here.

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