U.S., China say they are close to finalizing phase one trade deal

The U.S. and China have both confirmed that they are close to finalizing parts of the "phase one trade deal",... with much progress being made.In a statement on Saturday,... China's commerce ministry confirmed that the two sides had basically completed technical consultations on some parts of the trade deal.Earlier, the Office of the U.S. Trade Representative issued a statement following its chief negotiator Robert Lighthizer and Treasury Secretary Steven Mnuchin having a phone conversation with Chinese Vice Premier Liu He.It added discussions will go on at the deputy level.Following the announcement by the USTR, major U.S. stocks went up on Friday.