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The Wall Street Journal’s (WSJ) Chief China Economist, Lingling Wei, is out with the latest updates on the US-China trade talks, via Twitter, noting that both sides are reaching towards a compromise on the  trade framework by signing a Memorandum of Understanding (MoU).

Tweet:

“Despite scant progress on structural issues, US, China negotiators are inching toward reaching an MOU–a bare-bones deal that could be finalized by Trump/Xi. Statement to be issued later today will mention the MOU. Stay tuned.”

The memorandum is expected to cover issues related to Beijing’s offers to purchase more American goods and services, accelerating China’s market-opening efforts in sectors such as financial services and manufacturing, as well as improving its protection of the US IP Rights, Livesquawk reports.