The U.S. and China are finalizing a bevy of long-running corporate deals ahead of a high-profile ceremony next week to sign a trade deal, which the world's two largest economies are seeking to cast as a major breakthrough and a marked warming in their relationship.

Along with a Chinese delegation led by top negotiator Vice Premier Liu He, executives from American and Chinese companies will also attend the White House event to sign the phase-one agreement on Wednesday, said people familiar with the planning who asked not to be named. People's Bank of China Gov. Yi Gang and Minister of Commerce Zhong Shan will also participate, they said.

Just as plans for the signature of the initial stage are being finalized, U.S. President Donald Trump told reporters Thursday he wanted to start negotiations on phase two "right away" — but that he might not finish those until after the American presidential election in November.