The first phase of a U.S. trade deal with China may be nearing an end, according to comments made by two administration officials.
Commerce Secretary Wilbur Ross said said in an interview Friday morning that a U.S.-China trade deal will happen "in all likelihood," although he told Fox Business host Maria Bartiromo, "the devil is always in the details."
His remarks echoed comments made by White House economic advisor Larry Kudlow late Thursday, who told reporters that a deal is "coming down to the short strokes." He also said the U.S. is "in communication with [China] every single day."
An agreement between the nations may have as many as three phases, though the first focuses on "current trade," Ross said.
"Phase one is relatively limited in its scope and what's really being debated is how much limitation will there be on the scope of phase one relative to phase two and, maybe phase three," he said.
President Trump has yet to publicly show approval. Six months ago, China and the U.S. appeared to be close to a deal, but both parties ultimately backed away.
"You don't really have a deal on anything, until you have a deal on everything." Ross said. He added it's "not surprising" that details of the deal have yet to be firmed up.
Among the details holding up a deal are a demand China promise to stop stealing U.S. intellectual property and lay out how it will buy as much as $50 billion in agricultural imports. Ross said the agricultural commitment remains a topic of conversation, including "how firm is that commitment going to be and what happens if they don't live up to it."
Kudlow told the audience at a Council on Foreign Relations event Thursday that the two sides are "getting close" and have been having "very constructive" talks.
Kudlow said at the event that Trump and Chinese President Xi Jinping may sign a deal without meeting in person again.
Tesla is increasing wages for factory workers in Germany.
People are making travel plans and booking tickets as the holiday season nears. Johannes Thomas, CEO of Trivago, joined Cheddar News to provide tips on saving when booking lodging ahead of Thanksgiving and Christmas.
Elon Musk unveiled 'Grok,' his new A.I. chatbot over the weekend, adding that it will be more rebellious than its counterparts. Cheddar News breaks it down.
Heinz is combining two popular flavors for its new condiment, pickle ketchup.
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
