Trump to Meet China’s Liu as Trade Talks Appear to Near End Stage

U.S. President Donald Trump will meet Chinese Vice Premier Liu He at the White House on Thursday as speculation grows that negotiations over a trade deal between the world’s biggest economies are entering the final stages.

Liu returned to the U.S. Trade Representative’s office for a second day of talks on Thursday morning, where he was greeted by USTR Robert Lighthizer and Treasury Secretary Steven Mnuchin. Trump is scheduled to meet Liu at 4:30 p.m. in the Oval Office.

Drafts of an agreement to end a nearly year-long trade war would give Beijing until 2025 to meet commitments on commodity purchases and allow American companies to wholly own enterprises in the Asian nation, according to three people familiar with the talks.

“Both sides do want an agreement but they want to make sure it’s the right deal for their respective domestic audience,” said Tai Hui, Asia-Pacific chief market strategist at JPMorgan Asset Management in Hong Kong.

U.S. stocks rose on Thursday amid progress in resolving the trade tensions.