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The cancellation of the APEC summit has brought more doubt regarding the signing of phase one of the US-China trade deal. The two nations planned to sign the agreement next month during the summit in Chile. However, the Chilean president has canceled the summit amid growing protests.

Cancellation dents chances of signing the US-China trade deal 

President Sebastian Pinera said they were canceling the APEC summit expected in mid-November because of protests. Pinera said that although it was a difficult decision, it is nonetheless for the best interest of his people. He added that the country is focusing on restoring public order as well as enhancing the safety and peace of its citizens.

The cancellation of the summit cast doubt on when President Trump and his Chinese counterpart will meet to sign the trade deal. The two leaders were to meet during the summit to sign “phase one” of the deal.

Phase one of the trade deal ready for signing

Since the announcement early this month, negotiators have been working on finalizing the details before the leaders assent it. Trump had indicated that they would commence the second phase of the discussions once they sign the first phase. Following the progress, the US abandoned its plan to hike tariffs on $250 billion of Chinese products.

Washington has indicated that the plan is on to sign the deal next month, although there is no alternative site for the same. The White House has indicated that they expect to finalize the first phase if the trade within the set time.

In a statement on Thursday, the Commerce Ministry of China indicated that the talks are ongoing as planned. It indicated that lead negotiators would speak on Friday regarding any changes. The process has been full of wrangles about the US demands regarding a schedule for the purchase of US agricultural products by China.

According to sources familiar with the matter, the US is front Hawaii and Alaska as alternative locations for the APEC summit. China, on the other hand, prefers Macau as a potential venue.