US-China 'moving forward to final details' of trade agreement: US envoy

KUALA LUMPUR: The United States and China are working towards “finalising details” on trade talks ahead of a highly anticipated meeting of their leaders in South Korea this week, a US envoy said on Sunday.

“I think we’re moving forward to the final details of the type of agreement that the leaders can review and decide if they want to include together,” US Trade Representative Jamieson Greer said in Malaysia.

Trump is set to meet Xi in South Korea on the last day of his regional swing in a bid to seal a deal to end the bruising trade war between the world’s two biggest economies.

Aboard Air Force One at Qatar’s Al Udeid Air Base, when asked about ending the trade row with Beijing, Trump said: “I think we have a really good chance of making a really comprehensive deal.”

Such an agreement would stave off further 100 percent tariffs on China that are due to come into effect on November 1.

The highlight of the trip is expected to be South Korea, with Trump due in the southern port city of Busan on Wednesday ahead of the Asia-Pacific Economic Cooperation (APEC) summit.

He will meet Xi on Thursday for the first time since his return to office.

Global markets will be watching closely to see if they can halt the trade war sparked by Trump’s sweeping tariffs, especially after a recent dispute over Beijing’s rare-earth curbs.

Trump said he would also discuss fentanyl with Xi, as he raises pressure on Beijing to curb trafficking of the powerful opioid and cracks down on Latin American drug cartels.