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Negotiators may be on the point of concluding an agreement that will put an end to trade sanctions between the United States and China.
According to a Reuters report, this is the most important progress ever made towards the end of a seven-month trade war.
High level discussions are taking place Thursday and Friday in Washington.
Reuters reports that the outline of what could constitute an agreement is beginning to emerge from the negotiations.
Both parties are calling for an agreement before March 1st.
That day, a 90-day truce would end the agreements reached between President Trump and Chinese President Xi Jinping during their meeting in Argentina last year.
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President Trump said Tuesday that the talks with China were going well and hinted that he was willing to postpone the deadline to complete the negotiations, saying that March 1 was not a "magic" date.
Negotiators are developing six memoranda of understanding on structural issues: forced technology transfer and cyber-theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, according to two sources reported by Reuters.
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