Trump says US has come to a substantial phase one deal with China

President Donald Trump (L) shakes hand with China’s President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing on November 9, 2017.Fred Dufour | AFP | Getty ImagesThe U.S. has come to a “very substantial phase one deal” with China in the high-stakes trade negotiations between the two economic superpowers, President Donald Trump said Friday.”Phase two will start almost immediately” after the first phase is signed, Trump said in the Oval Office alongside Chinese Vice Premier Liu He. Both sides in the long-running talks, which resumed at the top level this week, have signaled optimism about coming to an agreement of some sort in the near future.Earlier Friday, Trump said in a tweet that Washington and Beijing are sharing “warmer feelings” during this round of talks than in the “recent past.”This story is developing. Please check back for updates.Subscribe to CNBC on YouTube.

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