December 4, 2019 / 9:31 AM / 10 days ago

U.S. and China move closer to phase-one trade deal: Bloomberg

FILE PHOTO: Chinese staff members adjust U.S. and Chinese flags before the opening session of trade negotiations between U.S. and Chinese trade representatives at the Diaoyutai State Guesthouse in Beijing, China February 14, 2019. Mark Schiefelbein/Pool via REUTERS

(Reuters) - The United States and China are moving closer to agreeing on the amount of tariffs to be rolled back in a phase-one trade deal, Bloomberg reported on Wednesday, citing sources.

U.S. President Donald Trump on Tuesday had said a trade agreement with China might have to wait until after the U.S. presidential election in November 2020, denting hopes of a resolution soon to a dispute that has weighed on the world economy.

Reporting by Shubham Kalia in Bengaluru; Editing by Andrew Heavens

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