US leader has threatened to terminate the agreement if Beijing fails to meet purchase commitments. FMTNews
Donald Trump has threatened to terminate the trade deal if Beijing fails to meet purchase commitments.
The two Trump cabinet officials said in a joint statement that both sides “agreed that in spite of the current global health emergency, both countries fully expect to meet their obligations under the agreement in a timely manner”. Trump, who has blamed China’s early handling of the coronavirus outbreak in Wuhan in late 2019 for causing thousands of deaths and millions of job losses in the United States, has threatened to terminate the trade deal if China fails to meet its purchase commitments.China has rejected the Trump administration’s assertions that there was evidence the new coronavirus came from a Wuhan laboratory and scientists have said it appears to have developed in nature.
While China has made some purchases of US farm goods, some observers say these are running far behind the pace needed to meet the first-year goal of a US$77 billion increase as China’s economy is just now beginning to recover from shutdowns imposed during the pandemic. White House economic adviser Larry Kudlow also cast the Phase 1 trade deal in a largely positive light. He said on Bloomberg Television that Beijing continues to tell Washington that “that they have every intention of meeting the requirements” of the agreement.
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