Top U.S. and Chinese trade representatives discussed their Phase 1 trade deal on Friday with China saying they agreed to improve the atmosphere for its implementation and the United States saying both sides expected obligations to be met.
The discussion in a telephone call comes amid escalating tension between the countries, exacerbated by a war of words over U.S. criticism of China’s handling of the novel coronavirus outbreak.
Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin agreed during the call that the two countries would work together to create a favourable environment for implementing the Phase 1 trade deal reached this year, China’s commerce ministry said.
The negotiators also agreed that “good progress” was being made on creating governmental infrastructures to make the Phase 1 trade deal a success, the U.S. office said.Under the deal, China agreed to increase its purchases of U.S. goods from a 2017 baseline by $200 billion over two years, with about $77 billion in increased purchases in the first year and $123 billion in the second year.
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.
Senators press Trump pick for top U.S. spy on China in era of coronavirusU.S. senators on Tuesday pressed Donald Trump's nominee to lead U.S. intelligence on whether he would act independently of the president on hot-button issues like the origins of the coronavirus in China, as lawmakers held the first public socially distanced hearing during the coronavirus pandemic.
Read more »
China gets top score as citizens rank their governments' response to the coronavirus outbreakThe majority of citizens feel dissatisfied with their leaders' response to the coronavirus outbreak, according to a new report, as countries across the globe have been left grappling with the fallout of the crisis.
Read more »
Australia trade surplus surges to record on gold rush, improving China demandAustralia's trade surplus ballooned to a record in March as shipments of iron ore to China surged as the Asian giant came back from lockdown, while exports of gold more than tripled amid a global rush for the safe haven metal.
Read more »
China trade data lifts futures ahead of jobless claimsU.S. stock index futures jumped on Thursday after a surprise rise in Chinese exports and a surge in oil prices spurred hopes of an economic recovery, even as investors braced for what is likely to be another gloomy weekly jobless claims report.
Read more »
Trump taps top GOP fundraiser to lead the embattled US Postal Service - Business InsiderThe new postmaster general's coziness with Trump will likely facilitate his efforts to dramatically raise delivery prices for Amazon.
Read more »