Trump says first phase of trade deal with China is in 'final throes'

United States President Donald Trump said on vember 26 that China and US are close to reaching an agreement on first phase of a tre deal. After top negotiators from two countries spoke on telephone and agreed to keep working on remaining issues, Trump said that Washington was in 'final throes' of work on a deal that would finally put an end to a 16-month tre war which was also regarded as greatest tre war in history. Apart from heavy tariffs, potential sore point for China is Washington's support for protesters in Hong Kong. 

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China h summoned US Ambassor Terry Branst to protest pass in US Congress of Hong Kong Human Rights and Democracy Act, which according to China, interferes in country's internal affairs. Trump told reporters at White House that one of most important deals in tre with Beijing is at final sts, however, US government want it to go well with Hong Kong at same time. Trump furr said that he shares a 'very good' relationship with President of China, Xi Jinping and expected him to ensure a positive outcome from months-long unrest in Hong Kong where recently, pro-democracy parties won nearly 90 per cent of 452 district council seats. 

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Trump's comments lifted Wall Street

optimistic comments by Trump on tre pact with China have lifted markets. Nearly three major indexes of Wall Street hit an all-time high on vember 26. US President's remarks were n followed by phonecall between US Tre Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin with Chinese Vice Premier Liu as revealed by Chinese Commerce Ministry. negotiators discussed core issues which are related to phase-one deal and reportedly reached a 'common understanding on resolving relevant problems'. Initially, completion of first st of deal was expected in vember, however, as per reports, some White House sources said that it could w slide into 2020 considering China's pressure to impose more extensive tariff rollbacks. 

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(With ncy inputs)