Asked if this friction meant “phase two” of the Sino-US trade deal would no longer happen, Trump replied that he didn’t even think about it and that he had many others things in mind.
The status of the trade agreement between the two economic superpowers, the first phase of which was signed and entered into force earlier this year, was called into question in the midst of the Covid-19 crisis.
The virus, which was first observed in the Chinese city of Wuhan, has spread around the world and wreaked havoc on America’s health and economy. According to data from Johns Hopkins University, more than 3 million cases and at least 133,291 deaths from Covid-19 have been reported in the United States.
Trump said in May that he was “very torn apart” about dropping the first phase of the Pact with Beijing, while administration officials said the two countries should still honor the deal.
The first phase of the deal followed a protracted trade war with China which suspended much of Trump’s first term. The agreement took initial steps to resolve issues such as intellectual property protection and forced technology transfer, while predicting that China will purchase at least $ 200 billion in US goods over two years.
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