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Trade War
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Xi, Trump have been in touch all along on trade deal

Optimal Capital director of strategy Frances Newton Stacy discusses markets as the U.S. moves towards a trade deal with China, company earnings, and the Saudi Aramco IPO. Video

The clock continues to tick toward the potential signing of a trade deal between the U.S. and China or at least the first phase of one.

China's President Xi Jinping and President Trump have been in touch all along according to the Chinese Foreign Ministry, reported by Reuters.

Ministry spokesman Geng Shuang made the comments Monday at a daily news briefing in Beijing.

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It is still being decided when and where the two leaders might meet for a potential signing ceremony.

President Trump speaks with reporters from the Oval Office on trade talks with China, intellectual property, Chinese students in the U.S. and more. Video

On Sunday, Commerce Secretary Wilbur Ross said the deal could be potentially signed anywhere from Iowa, Alaska, Hawaii or somewhere in China.

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The job right now for U.S. and Chinese negotiators is to put the finishing touches on a 'phase one' agreement for Trump and Xi to sign this month.

Coming up Dec. 15 is when new U.S. tariffs on Chinese imports such as laptops, toys and electronics are set to kick in.

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Both sides are interested in avoiding those tariffs.