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BEIJING: United States President Donald Trump said Monday (May 11) that he opposed renegotiating the “Phase 1” trade agreement between the United States and China after a Chinese state newspaper reported that some government advisers in Beijing they were calling for further talks and possibly invalidating the deal.
Trump, who has considered abandoning the pact signed in January, said at a White House press conference that he wanted to see if Beijing would comply with the agreement to massively increase purchases of American goods.
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“No, not at all. Not even a little bit,” Trump said when asked if he would consider reworking Phase 1. “I’m not interested. We signed an agreement. I had also heard that. They like to reopen the business conversation, to make it a better deal for them. “
READ: Chinese advisers call talks on new trade deal with the US USA: Global Times
The tabloid Global Times reported on Monday that unidentified advisers close to the talks have suggested that Chinese officials revive the possibility of invalidating the trade pact and negotiating a new one to tip the balance more towards the Chinese side.
The Global Times is published by the People’s Daily, the official newspaper of the ruling Communist Party of China. While he is not an official spokesperson for the party, it is believed that the views of the Global Times sometimes reflect those of its leaders.
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NEW PURCHASES OF SOYBEAN
Hours after the report was released, Chinese importers on Monday purchased at least four loads, or about 240,000 tons, of soybeans from the United States for shipping starting in July, and additional sales are possible, two said Monday. merchants familiar with the deals.
The purchases were the latest in a recent chain in China, which according to US officials has also begun implementing other parts of the trade deal regarding intellectual property protections.
The U.S. Trade Representative’s office did not respond to repeated inquiries about the Global Times article.
Comment: Who would prefer Beijing to win the US presidential election in November?
Under the Phase 1 agreement signed in January, Beijing pledged to purchase at least $ 200 billion in additional US goods and services. USA For two years, while Washington agreed to reduce tariffs in stages for Chinese products.
Trump, who blamed China’s early management of the new coronavirus outbreak in his central city of Wuhan for thousands of deaths in the United States and millions of job losses, said last week that he was “very torn” about whether to end the trade deal. of Phase 1. Those comments came only hours after senior trade officials from both countries pledged to press ahead with implementation of the agreement.
‘TSUNAMI OF THE ERA’
Rising tensions between the United States and China over the coronavirus outbreak have cast doubt on the trade deal and the proposed talks on a Phase 2 deal.
The Trump administration claimed there was evidence that the new coronavirus came from a Wuhan laboratory, an accusation that China has rejected. On Monday, a new source of tension opened, with reports that the administration plans to issue a warning that hackers linked to the Chinese government are trying to steal information from US investigators.
U.S. intelligence and law enforcement officials did not immediately respond to requests for comment.
Comment: Trump and Xi must end the blame game and restore confidence
The Global Times said malicious attacks by the United States have sparked a “tsunami of anger” among Chinese merchants after China made commitments in the Phase 1 pact.
“In fact, China is interested in ending the current Phase 1 agreement,” a Chinese government trade adviser told the Global Times, citing the weakening of the US economy and the upcoming US presidential election. “The United States now cannot afford to restart the trade war with China if everything goes back to square one.”
Clete Willems, a former White House trade adviser who actively participated in the negotiations between the United States and China, said China had complied with most of the structural provisions in the Phase 1 agreement, including new rules to protect property. intellectual.
“I don’t think we are at the point where we should give up on the deal. It has delivered positive results so far,” said Willems, who is now at the Akin Gump law firm in Washington.
