China, US agree to ‘push forward’ Phase 1 trade deal


The United States and China on Tuesday agreed to push forward their phase one trade deal despite rising tensions between the two economic giants.

The US and China signed the accord in January, bringing a partial truce in their lingering trade war and obliging Beijing to import an additional $200 billion in American products over two years, ranging from cars and machinery to oil and farm products.
But the COVID-19 pandemic has put pressure on the agreement and China’s purchases of those goods have been lagging.
The two countries confirmed the talks in separate statements.
Washington said the parties “addressed steps that China has taken to effectuate structural changes called for by the agreement”.
Those changes, it said, would “ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture, and eliminate forced technology transfer”.
It added that both sides “see progress and are committed to taking the steps necessary to ensure the success of the agreement”.
Beijing´s statement said a “constructive dialogue” between the two sides had “agreed to create conditions and atmosphere to continue to push forward the implementation of phase one of the China-US economic and trade agreement”.
The phase one deal called for officials to hold a “check-in” every six months.


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