White House optimistic on prospects for China trade deal, official tells CNBC

The White House is "very optimistic" about the prospects of reaching a so-called Phase One trade deal with China before the end of the year, a senior administration official said on Friday.

"We're very optimistic that round one will be completed and hopefully signed before the end of this year," Marc Short, chief of staff to Vice President Mike Pence, told CNBC.

(Reporting by Timothy Ahmann; Editing by Sandra Maler)