The United States and China have vowed to start implementation of “phase one” of their countries’ trade deal.
Top U.S. and Chinese trade negotiators stated this on Friday during their first call since the start of the Covid-19 pandemic, Top U.S.
According to a statement posted on the trade representative’s office website, this was the conversation Chinese Vice Premier Liu He had on the phone with U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.
The officials vowed to implement the trade deal adopted in January, which includes Chinese promises to buy some 200 billion dollars’ worth of U.S. products during the course of two years and implement stronger rules regarding intellectual property.
“The two 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,” the statement said.
Report says U.S. President Donald Trump this week threatened to terminate the deal if China fails to meet its purchase targets.
Although foreign trade data released by China on Thursday suggested that Beijing was far from meeting its import targets, as the coronavirus pandemic had disrupted both countries’ economies.
Chinese imports from the U.S., in dollar amounts, were down 5.9 per cent from January to April compared with the same period in 2019.
According to China’s state-run Xinhua news agency, during Friday’s talk, officials also vowed to strengthen “macroeconomic and public health cooperation.” (dpa/NAN)
DISCLAIMER
The OPINION / COLUMN is authored by independent contributors to the National Accord Newspaper. While contributors adhere to our editorial guidelines, they are not employed by the National Accord Newspaper. The perspectives and opinions expressed herein are solely those of the author and do not represent the views of the National Accord Newspaper or its staff.