Concerns mount that deal's conditions will be unfulfilled as governments remain busy tackling the outbreak. FMTNews US China
BEIJING: A hard-won trade war truce between the US and China is at risk as the coronavirus pandemic rocks the global economy, making it tough for Beijing to fulfil its commitments.
But concerns are mounting that the conditions of the deal cannot be met as the world economy is threatened by governments taking drastic measures to contain the outbreak, including quarantines, travel bans and closures of public spaces. Huge waves of business closures have not only disrupted China’s consumer spending and manufacturing but also the world’s supply chains.
The virus threatens “China’s import commitments as mandated by the phase one trade deal,” said Rory Green, economist at research firm TS Lombard. “There is now no chance of China fulfilling its import targets within the timeframe set by the text of the agreement.”The US economy is also taking a hit from the virus, with the government introducing sweeping restrictions on arrivals from Europe and huge stock market falls.Washington ordered Chinese state-run media to cut the number of Chinese nationals employed in the United States after Beijing expelled three Wall Street Journal reporters.
“I doubt that either has considered fully the implications the measures taken to counter the spread of the virus have for their bilateral relations,” said Tsang.
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