No 'phase two' US-China deal on the horizon, officials say

US President Donald Trump and his Chinese counterpart Xi Jinping. Both China and the United States have a clear interest in getting a phase one deal completed relatively soon to soothe markets and assuage domestic policy concerns,

WASHINGTON: An ambitious "phase two" trade deal between the United States and China is looking less likely as the two countries struggle to strike a preliminary "phase one" agreement, according to U.S. and Beijing officials, lawmakers and trade experts.

In October, U.S. President Donald Trump said during a press conference with Chinese vice premier Liu He that he expected to quickly dive into a second phase of talks once "phase one" had been completed.