Trump renegotiates trade agreement between the United States and China

The President of the United States, Donald Trump, ruled out the possibility of renegotiating a first-stage trade agreement with China. When President Trump was asked at a White House press conference on 11 (local time) about some foreign reports that “China wants to resume the first-tier trade deal on a more favorable basis for its country,” said the President Trump, “I am not interested in anything at all.” He took the opportunity to renegotiate with a single knife.

“We signed an agreement. I also heard that they (China) want to resume trade negotiations to make them a better deal. China has been using the United States for decades. “He added:” I am not interested “and added:” Let’s see if they keep the agreement signed. ”

On January 15 of this year, the United States and China agreed to stop imposing additional tariffs on China in the Phase 1 agreement, but China promised to import more than $ 200 billion in products made in the United States, such as agricultural products, during the next two years. In this regard, President Trump warned in a Fox News interview on Day 3: “If China does not buy our products worth $ 200 billion, it will destroy the trade agreement.”

However, there is an expectation that China will not be able to meet the goal of buying products made in the United States, originally promised after the new coronavirus infection (Corona19). According to CNBC Broadcasting, Senior Advisor Scott Kennedy of the Center for Strategic and International Studies (CSIS), a group of US experts. The US predicts that US exports of US goods this year will be approximately $ 60 billion (approximately 73.44 trillion won), which complies with the agreement between the United States and China. He noted that it was far less than the $ 187 billion needed for this.

Kennedy cited the forecast as the cause of the sharp decline in domestic demand in China due to Corona19. It has already been noted that in the first quarter of this year, US exports of mass goods have fallen 10% from the same period last year. “The situation in Corona 19 made the unreal impossible,” said Kennedy, who said that the initial purchase objective of the first-stage trade agreement “was never realistic.”

With the prospect that China’s promises would be difficult to implement, he presented three scenarios in response to the U.S. administration of Donald Trump. The first is how the Trump administration resets China’s “buy targets” through renegotiation with China and takes steps like the Customs Department if China fails to do this.

Second, the Trump administration is imposing public tariffs and withdrawing the top-tier trade deal. The third is the corona incident19, in which the Chinese government’s ability to buy products made in the United States has decreased, and it will be accepted that product purchases will increase as the Chinese economy recovers. “The previous two steps will rebel and retaliate from China, and the third option is the most dangerous political approach for President Trump,” Kennedy said.

Reporter Choi Na-sil [email protected]