China/US carry out phase one deal despite complications – Global Times

As the Global Times reports, China and the US have moved to implement the phase one trade agreement and both sides cut by half some tariffs on tens of  |  16/02/2020 20:19

As the Global Times reports, China and the US  have moved to implement the phase one trade agreement and both sides cut by half some tariffs on tens of thousands of each other's products.

Key notes

In spite of China's commitment to the phase one deal and further negotiations, the novel coronavirus epidemic and US officials' intensifying crackdown on Chinese telecom giant Huawei could cast some uncertainty going forward, Chinese trade experts noted.

In the wake of the epidemic, some in the US have raised questions over China's willingness as well as the ability to fulfill its commitments.  

Many in China have also suggested the use of a disaster-related clause in the phase one deal to start consultations with the US over the purchases.

China continues to combat the outbreak of the coronavirus, which has brought the world's second-largest economy to a near standstill, there have been rising concerns over the implementation of the phase one agreement and negotiations for a phase two deal.

"The epidemic will be too big a problem for the agreement to go into effect and be implemented," Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing, told the Global Times on Friday.

Although the epidemic might have "a little" impact on imports from the US, it will not affect the figure both sides have agreed, Gao said. "It will only be a delay rather than a cancellation."

Craig Allen, president of the US-China Business Council, which represents US companies that work with China, also said that the epidemic will not halt China's purchases of US goods and services, according to Reuters.

 

 

 

Share

Popular News

Show More Popular News

TheFXApp's Views

TheFXApp analyses will provide both fundamental and technical comprehensions on finance
and other asset classes for TheFXApp viewers

Back

Login to TheFXApp Account

Your TheFXApp account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Forgot Password?

Don't you have a TheFXApp account? With a few easy steps you can easily register to TheFXApp

Create a TheFXApp's Account

Your TheFXApp account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

register_ty

Thank you!

Welcome to TheFXApp family!

You have succesfully completed the registration.
We will send you an e-mail to give you some
instructions and our Terms and Conditions!
Our account representatives will be contacting you as
soon as possible. If you have any further questions
please do not hesitate to mail us via info@thefxapp.com