A report published in a state-controlled tabloid citing sources close to the Chinese government have claimed that there is a rising chorus of hawkish voices in the country that are demanding the Beijing make a review of its so called phase 1 trade deal with the United States and some of those voices have even asked for starting of fresh talks on trade with Washington.
Suggestions that the possibility of invalidating the trade pact should be revived by Chinese officials, advisers close to the talks have suggested, the reports claimed, and have also suggested that Beijing should negotiate a new trade agreement to make the deal more favorable for Chinese interests,
The report was published in the state controlled Global Times which is published by the People’s Daily, the official newspaper of China’s ruling Communist Party. Even though the Global Times is not the official mouthpiece of the Communist Party of China, it’s the views that are expressed in it are believed to reflect the views and voices of the Chinese leaders of the times.
The phase 1 trade deal between the two countries was signed in January. Under the partial trade agreement m China will be purchasing at least $200 billion in additional goods and services from the United States over two years while the US will be rolling back the tariffs it has imposed on import of Chinese goods.
He was “very torn” about whether to end the so-called Phase 1 trade deal, US President Donald Trump had said last week. That comment was made just a few hours after a meeting between the top trade officials of both the countries in which the two countries pledged that they would go ahead with the ;plans of implementing the trade agreement.
Trump has been very critical in recent months of the manner in which Beijing had handled the novel coronavirus pandemic at the early stage in when it had first emerged in the central Chinese city of Wuhan, and has rest the responsibility on China of thousands of deaths and millions of job losses in the United States.
Claims of the existence of evidence that the new coronavirus came from a Wuhan laboratory, have also been strongly made by the Trump administration. China has rejected the accusation.
The report in the Global Times said that a “tsunami of anger” among Chinese trade insiders was brewing because of the malicious attacks by the United States. Compromises were made by China in the Phase 1 pact to press ahead, the report added.
“It’s in fact in China’s interests to terminate the current Phase 1 deal,” a trade adviser to the Chinese government told the Global Times. The sources pointed to the weakening of the US economy and the upcoming U.S. presidential elections.
“The U.S. now cannot afford to restart the trade war with China if everything goes back to the starting point.”
(Source:www.reuters.com)
Suggestions that the possibility of invalidating the trade pact should be revived by Chinese officials, advisers close to the talks have suggested, the reports claimed, and have also suggested that Beijing should negotiate a new trade agreement to make the deal more favorable for Chinese interests,
The report was published in the state controlled Global Times which is published by the People’s Daily, the official newspaper of China’s ruling Communist Party. Even though the Global Times is not the official mouthpiece of the Communist Party of China, it’s the views that are expressed in it are believed to reflect the views and voices of the Chinese leaders of the times.
The phase 1 trade deal between the two countries was signed in January. Under the partial trade agreement m China will be purchasing at least $200 billion in additional goods and services from the United States over two years while the US will be rolling back the tariffs it has imposed on import of Chinese goods.
He was “very torn” about whether to end the so-called Phase 1 trade deal, US President Donald Trump had said last week. That comment was made just a few hours after a meeting between the top trade officials of both the countries in which the two countries pledged that they would go ahead with the ;plans of implementing the trade agreement.
Trump has been very critical in recent months of the manner in which Beijing had handled the novel coronavirus pandemic at the early stage in when it had first emerged in the central Chinese city of Wuhan, and has rest the responsibility on China of thousands of deaths and millions of job losses in the United States.
Claims of the existence of evidence that the new coronavirus came from a Wuhan laboratory, have also been strongly made by the Trump administration. China has rejected the accusation.
The report in the Global Times said that a “tsunami of anger” among Chinese trade insiders was brewing because of the malicious attacks by the United States. Compromises were made by China in the Phase 1 pact to press ahead, the report added.
“It’s in fact in China’s interests to terminate the current Phase 1 deal,” a trade adviser to the Chinese government told the Global Times. The sources pointed to the weakening of the US economy and the upcoming U.S. presidential elections.
“The U.S. now cannot afford to restart the trade war with China if everything goes back to the starting point.”
(Source:www.reuters.com)
