China trade talks likely to need a 'phase three,' officials say

Trump administration officials are indicating that the trade agreement negotiated with Beijing earlier this month will likely require three stages of continuing negotiations to finish. The rhetorical shift — officials previously stated that they hoped to get it done in two — indicates that the talks are progressing slowly.

White House economic adviser Larry Kudlow said Tuesday that the administration is taking a “new approach” in the talks that involves addressing issues in a piecemeal fashion.