Chile said it's calling off the Asia-Pacific Economic Cooperation summit in Santiago in mid-November.

President Donald Trump and Chinese leader Xi Jinping were scheduled to meet at the gathering to discuss a possible "phase one" deal that the two countries are close to finalizing.

The cancellation was due to protests, according to Chilean President Sebastian Pinera.

"This has been a very tough decision … but it is based on the wise principle of common sense," Pinera said in a media address Wednesday.

"A president must always put his compatriots above all else," Pinera said. "Our main concern is reestablishing public order, our citizens' safety and social peace along with pushing through a social agenda to respond to the main demands of our citizens."

Chile's government had extended a state of emergency to several cities across the country last week as a proposed hike in public transport fares sparked nationwide protests.

The decision by Chile to cancel the summit brings up the question of when the leaders of the U.S. and China will meet to sign a much-needed trade deal.