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Trump rules out renegotiation of the trade deal with China

rocky
rocky
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Trump rules out renegotiation of the trade deal with China Empty Trump rules out renegotiation of the trade deal with China

Post by rocky on Tue 12 May 2020, 2:47 am

[size=39]Trump rules out renegotiation of the trade deal with China

Free / Agencies - Washington
May 12, 2020
[/size]

Trump rules out renegotiation of the trade deal with China 000_1RD89T
Trump: I am not interested in renegotiating the trade agreement with China
 US President Donald Trump on Monday ruled out renegotiating the partial trade agreement his administration signed with China last January.
When asked about reports that China is considering reopening negotiations on the agreement, Trump replied, "I heard that as well," adding that the Chinese "want to reopen trade discussions to reach an agreement more appropriate to their interests."
He continued, "I am not interested in this matter" even if "a little bit," adding, "Let's see if they will abide by the agreement they signed."
Chinese Vice Prime Minister Luo He, who led his country's delegation during trade negotiations with Washington, had a telephone conversation Friday with US Trade Representative Robert Lighthizer and Treasury Secretary Stephen Mnuchin, confirming that both sides agreed to implement the first stage of the agreement.
Under the agreement, the Trump administration agreed to delay the imposition of any further increase in customs duties, while China pledged to increase its purchases of US products over two years by $ 200 billion compared to the level it was in 2017.
The   Chinese state-controlled Global Times  , on Monday, said, "There have been voices emerging in China calling for a review of the trade agreement with the United States," adding that "there are calls" for new talks.
The newspaper quoted "sources close to the Chinese government" as saying that "hawks within the government have begun to seek a reassessment of the first-stage trade agreement with the United States, with some advisers urging new talks."
The newspaper said its sources close to the talks indicated that "Chinese officials are reviving the possibility of nullifying the trade agreement and negotiating new ones to tilt the scales to the Chinese side."
The US President criticized China's way of dealing with the outbreak of the new Corona virus, to the point of threatening to impose new punitive duties on Beijing.
The Trump administration accuses China of being late to warn the world of the epidemic, and therefore bears responsibility for the spread of the virus worldwide and causing a global economic crisis.


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