Chile Summit Where Trump And Xi Were Planning To Sign A Trade Deal Has Been Canceled

SANTIAGO, CHILE, Thurs. Oct. 31, 2019: Chile said Wednesday it’s calling off the Asia-Pacific Economic Cooperation summit in Santiago in mid-November.

President Donald Trump and Chinese leader Xi Jinping were scheduled to meet at the gathering to discuss a possible “phase one” deal that the two countries are close to finalizing.

The cancellation was due to protests, according to Chilean President Sebastian Pinera.

“This has been a very tough decision … but it is based on the wise principle of common sense,” Pinera said in a media address Wednesday.

Chile’s government had extended a state of emergency to several cities across the country last week as a proposed hike in public transport fares sparked nationwide protests.

The decision by Chile to cancel the summit brings up the question of when the leaders of the U.S. and China will meet to sign a much-needed trade deal.

Earlier this month, Trump said the U.S. has come to a “very substantial phase one deal” with China, adding phase two will start “almost immediately” after the first phase is signed. The U.S. also ditched a planned tariff hike on $250 billion in Chinese goods that was set to take effect Oct. 15.

A White House spokesman told CNBC that APEC doesn’t have a secondary site prepared, but the U.S. and China will still be working to bring the partial deal to a conclusion. (CNBC)