President Donald Trump and and Chinese Vice Premier Liu He are expected to sign a “phase one” China trade deal on Wednesday at the White House.

The signing comes after House Speaker Nancy Pelosi announced seven impeachment mangers for the president’s looming trial in the Senate, expected to start on Tuesday.

The world’s two largest economies reached a partial trade deal in December, a step toward de-escalation of the long-simmering trade war that has damaged U.S. farmers and created a drag on global growth.

Under the pact, Washington agreed to cancel some new tariffs and reduce others, and China said it would buy more U.S. agricultural products. It also includes some reforms to China’s policies on intellectual property and technology transfer.

Trump sees striking a broad trade agreement and cracking down on Chinese trade abuses as a priority ahead of his 2020 reelection bid. The tariff battle between the U.S. and China has worried investors, who fear it will continue to drag on economic growth.

The president said in a tweet on Dec. 31 that he expects to travel to Beijing to begin talks on “phase two” at a later date.

Chinese media said the next round of talks may not start anytime soon.

—CNBC’s Jacob Pramuk contributed to this report.

Subscribe to CNBC on YouTube.

Read More