[ad_1]
BEIJING: The top U.S. and Chinese trade representatives discussed their Phase 1 trade deal on Friday (May 8) with China saying it agreed to improve the atmosphere for its implementation, and the United States said both sides expected the obligations to be met.
The discussion in a phone call comes amid mounting tension between countries, exacerbated by a war of words over America’s criticism of China’s handling of the new coronavirus outbreak.
United States President Donald Trump and other top officials have blamed China for the deaths of hundreds of thousands from the outbreak and have threatened punitive actions, including possible tariffs and the displacement of supply chains outside of China. .
Chinese Vice Premier Liu He, United States Trade Representative Robert Lighthizer and United States Treasury Secretary Steven Mnuchin agreed during the call that the two countries will work together to create a favorable environment to implement the trade agreement. Phase 1 reached this year, said the Chinese Ministry of Commerce.
The office of the United States Trade Representative said that both parties “also agreed that, despite the current global health emergency, both countries hope to fulfill their obligations under the agreement in a timely manner.”
Negotiators also agreed that “good progress” was being made in creating government infrastructure to make the Phase 1 trade deal a success, the United States office said.
Under the agreement, China agreed to increase its purchases of US goods from a 2017 baseline by $ 200 billion over two years, with an increase in purchases of about $ 77 billion in the first year and from US $ 123 billion in the second year.
But the coronavirus, which emerged in China late last year, has dealt a blow to Chinese demand and its economy is just beginning to recover.
The two countries will continue to hold the meetings required under the trade agreement through a conference call on a regular basis, the United States office said.
