U.S. Markets closed

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

Chinese and U.S. flags flutter near The Bund in Shanghai

(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)