Trump says he and Xi will sign China trade deal

Trump says he and Xi will sign China trade deal
Beijing has not yet confirmed specific components of the deal that were released by US officials. (File/AFP)
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Updated 25 December 2019

Trump says he and Xi will sign China trade deal

Trump says he and Xi will sign China trade deal
  • US Trade Representative Robert Lighthizer said on Dec. 13 that representatives from both countries would sign Phase 1 of the agreement
  • Chinese Foreign Ministry spokesman Geng Shuang said both countries were in close contact

PALM BEACH: US President Donald Trump said on Tuesday he and Chinese President Xi Jinping will have a signing ceremony to sign the first phase of the US-China trade deal agreed to this month.
“We will be having a signing ceremony, yes,” Trump told reporters. “We will ultimately, yes, when we get together. And we’ll be having a quicker signing because we want to get it done. The deal is done, it’s just being translated right now.”
United States Trade Representative Robert Lighthizer said on Dec. 13 that representatives from both countries would sign the Phase 1 trade deal agreement in the first week of January.
Speaking in Beijing on Wednesday, Chinese Foreign Ministry spokesman Geng Shuang said both countries were in close contact.
“Both sides’ economic and trade teams are in close communication about detailed arrangements for the deal’s signing and other follow-up work,” Geng told a daily news briefing.
He did not elaborate.
Beijing has not yet confirmed specific components of the deal that were released by US officials. A spokesman for China’s Commerce Ministry said last week the details would be made public after the official signing.


Copper slips as China's coronavirus outbreak raises demand fears

Copper slips as China's coronavirus outbreak raises demand fears
Updated 10 min 10 sec ago

Copper slips as China's coronavirus outbreak raises demand fears

Copper slips as China's coronavirus outbreak raises demand fears
  • The metal reached an eight-year high of $8,238 on Jan. 8

LONDON: Copper fell on Friday alongside stock markets and oil prices as poor economic data and new coronavirus restrictions in China, the world's biggest raw materials consumer, weakened the outlook for economic growth and demand.
But losses eased after U.S. factory figures showed activity surging to its highest level in nearly 14 years in early January.
Benchmark copper on the London Metal Exchange (LME) was down 0.2 percent at $8,005 a tonne at 1700 GMT, off an earlier low of $7,864.50.

The metal reached an eight-year high of $8,238 on Jan. 8.
"We are just hitting the buffers here," said Saxo Bank analyst Ole Hansen. "Commodities had a phenomenal run, and that just screams correction."
A coronavirus outbreak in China and the upcoming Chinese Lunar New Year holiday may curb industrial activity.

This and slow progress suppressing the virus in Europe and the United States are forcing investors to reassess copper's near-term outlook, he said.
But many analysts, including Hansen, say supply will tighten as the year progresses, pushing prices higher.