Left Menu
Development News Edition

China, U.S. to review trade deal, air other grievances on Aug. 15 - sources

Beijing has bought only 5% of the energy products needed to meet the Phase 1 first year goal of $25.3 billion One of the people familiar with the plans said Chinese officials hoped to discuss other issues beyond the Phase 1 trade deal implementation. "It's both the normal semi-annual review and also comes at a time when the relationship continues to deteriorate.

Reuters | Updated: 05-08-2020 04:17 IST | Created: 05-08-2020 04:17 IST
China, U.S. to review trade deal, air other grievances on Aug. 15 - sources

Senior U.S. and Chinese officials will review the implementation of a Phase 1 trade deal and likely air mutual grievances in an increasingly tense relationship during an Aug. 15 videoconference, two people familiar with the plans said. U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, the principal negotiators for the two countries, will participate in the meeting, which is an initial semi-annual review of the pact signed on Jan. 15 and activated a month later.

The meeting plans were first reported by the Wall Street Journal. The U.S. Trade Representative's office and the U.S. Treasury did not respond to requests for comment. Under the Phase 1 trade deal signed in January, China had pledged to boost purchases of U.S. goods by some $200 billion over 2017 levels, including agricultural and manufactured products, energy and services.

But China, battered by the global coronavirus recession, is far behind the pace needed to meet its first-year goal of a $77 billion increase. Imports of farm goods have been lower than the 2017 level, far behind the 50% increase needed to meet the 2020 target of $36.5 billion. Beijing has bought only 5% of the energy products needed to meet the Phase 1 first year goal of $25.3 billion One of the people familiar with the plans said Chinese officials hoped to discuss other issues beyond the Phase 1 trade deal implementation.

"It's both the normal semi-annual review and also comes at a time when the relationship continues to deteriorate. Naturally there is much to discuss," the person said. Trump has threatened to end the trade pact over China's early handling of the coronavirus, which originated in the Chinese city of Wuhan, and tensions have risen over U.S. sanctions related to China's security crackdown on Hong Kong.

The latest irritant between the world's two largest economies is Trump's threat to ban U.S. use of the Chinese-owned video app TikTok unless it is sold to a non-Chinese buyer. White House officials on Tuesday could not say how Trump's suggestion that a portion of the proceeds of the sale -- potentially to U.S. software giant Microsoft -- should go to the U.S. Treasury could be implemented. (Additional reporting by Kanishka Singh in Bengaluru; editing by Jonathan Oatis and Tom Brown)


TRENDING

OPINION / BLOG / INTERVIEW

South Africa's COVID-19 response: Surprising outcomes or just poor data management?

South Africa has been committed to improving its health information system and shows that a robust digital has considerable scope to improve healthcare for the entire population. But the COVID-19 pandemic has highlighted that significant ga...

Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...

Videos

Latest News

Rabbis ponder COVID-19 queries of ultra-Orthodox Jewish life

Must an observant Jew who has lost his sense of taste and smell because of COVID-19 recite blessings for food and drink Can one bend the metal nosepiece of a surgical face mask on the Sabbath May one participate in communal prayers held in ...

Church says Cardinal Pell returning to Vatican in crisis

Cardinal George Pell, Pope Francis former finance minister, will soon return to the Vatican during an extraordinary economic scandal for the first time since he was cleared of child abuse allegations in Australia five months ago, a church a...

Mumbai: Kirit Somaiya detained after protest outside BMC headquarters

BJP leader Kirit Somaiya was detained and taken to the Azad Maidan Police Station on Monday after he staged a protest outside the Brihannmumbai Municipal Corporation BMC headquarters. The BJP leader, along with his supporters, had protested...

Dhoni's reflexes as good as race drivers: Trainer Ramji Srinivasan

By Baidurjo Bhose Former Indian cricket team trainer Ramji Srinivasan has worked closely with the Chennai Super Kings outfit. He was with the team till the last season and even as critics have left no opportunity to question skipper MS Dhon...

Give Feedback