It's in the interest of the U.S. and China to have a little more time to review the progress of the phase one trade deal due to outstanding issues between the two, said David Dollar, senior fellow at the Brookings Institution.
does not want to "rip off the deal" at this time. "It's not in his interest to have a review that things are not going well as he wants this to look like a foreign policy victory," said Dollar.
U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He were scheduled to meet.on its promised purchases in the initial deal. In that agreement, China pledged to buy an additional $200 billion in U.S. goods over the next two years, on top of the 2017 U.S. export numbers.
However, in the first half of 2020, China bought less than 25% of the targeted full-year amount of U.S. products based on both sets of statistics, data compiled by the think tank showed. The data excludes China's purchase of U.S. services, PIIE said."Usually, the Communist Party leadership meets at the beach at this time," Dollar said, referring to theChinese lead trade negotiator Liu probably had to attend high-level meetings at this time, said Dollar.
Another issue that probably complicated the scheduled trade review is that the Chinese wanted to discuss recent measures the Trump administration has taken in the U.S. against Chinese tech firms — but those are not under the USTR's purview, creating some disjunction, said Dollar.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia stocks set to trade lower as U.S.-China tensions remainStocks in Asia Pacific were set to trade lower on Monday as tensions between the U.S. and China continue to weigh on investor sentiment.
Read more »
Hong Kong journalists harassed, arrested and losing press freedoms under new China lawThe raid this week of Apple Daily's newsroom and leadership changes at broadcaster iCable highlight the shrinking space for independent journalism as Beijing exerts more control over a once freewheeling Hong Kong.
Read more »
Mounting U.S.-China tensions are 'unhelpful' for Hong Kong, city's commerce secretary saysThe mounting U.S.-China tensions are not good for Hong Kong, said the city's secretary for commerce and economic development, as he urged everyone to recognize that the 'common enemy' of the world is the coronavirus pandemic.
Read more »
The Trump administration wants a US-China commercial splitAmerican firms generate about 5% of global sales in China. A rupture between the two giants would hurt America Inc too
Read more »
2020 Democratic Party Platform: What We Know, From Health Care to ChinaDemocrats expect to use this week’s convention to introduce their party platform, which calls for universal health care and criticizes China’s trade practices but steers clear of proposals such as Medicare for All, the Green New Deal and defunding the police.
Read more »
China new local COVID-19 cases fall as Xinjiang cluster recedesChina's new locally transmitted cases of the novel coronavirus fell to a one-month low as a cluster in the western region of Xinjiang receded, data released by the country's health authority on Sunday showed.
Read more »