U.S. and China Negotiators Pledge to Implement Phase One Trade Deal

The top trade negotiators for the U.S. and China talked on the phone Friday, pledging to create favorable conditions for the phase one trade deal, China’s state-run Xinhua News Agency reported, while President Trump again cast doubts on the deal’s future.

Mr. Trump, speaking on Fox News on Friday morning, confirmed the call took place and said it “moves along” the deal — but he added: “I feel differently than I did.”

“I’m having a very hard time with China. I made a great trade deal months before this whole thing happened,” Mr. Trump said, referring to the coronavirus pandemic, which has raised tensions between Beijing and Washington.

Mr. Trump had earlier threatened to “terminate” the trade deal signed in January if China failed to buy promised goods and services from the U.S.

“I have not decided yet, if you want to know the truth,” Mr. Trump said on Thursday when asked about the status of the deal.

Chinese Vice Premier Liu He was invited to speak with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin Friday morning Beijing time, Xinhua said.

The two sides pledged to enhance economic and public-health cooperation and moved to create a favorable environment to implement the trade deal. The two sides also agreed to keep close communications, Xinhua said without providing further details.

China has agreed to purchase an additional $200 billion in U.S. products and services over two years compared with the amount in 2017. But analysts say the coronavirus pandemic has made it hard for Beijing to realize that goal.

In the first four months, China’s imports from the U.S. fell 5.9% from the same period a year ago, according to the official data released Thursday.
Source: Dow Jones