A “phase one” trade deal is unlikely to be agreed upon before late December, Axios reported Sunday. Citing a source close to the trade negotiations, Axios reported the deal has stalled over the bill President Donald Trump signed last week supporting Hong Kong’s pro-democracy demonstrators, and that China needs time to allow domestic politics “to calm” — “year-end at the earliest,” the source said. The report said Trump is expected to put off tariff hikes scheduled to take effect Dec. 15 to keep negotiations alive. Axios said the deal still has a number of obstacles, including how much Trump will roll back in tariffs, an enforcement mechanism and the location of a signing ceremony. Regardless of exact timing, Axios reported its sources believe the deal will ultimately be made. Separately, Chinese state media reported Sunday that a rollback of tariffs is a requirement for a phase-one deal.