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US & China hold phone call to begin phase one trade agreement


Komal FatimaWeb Editor

25th Aug, 2020. 11:46 am
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US & China hold phone call to begin phase one trade agreement

US and China held talks through a phone call Tuesday morning to discuss the implementation of ‘phase one’ agreement between the two countries.

The phone call comes after a six-month review of the deal set for 15th August was delayed. Press release from both governments mentioned that Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighth cizer, and Treasury Secretary Steven Mnuchin joined Tuesday’s discussion.

Office of the U.S. Trade Representative said in an online statement, “The parties addressed steps that China has taken to effectuate structural changes called for by the Agreement that will 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.”

“The parties also discussed the significant increases in purchases of U.S. products by China as well as future actions needed to implement the agreement,” the official added.

On the other hand, Beijing did not mention specific details on the discussion. 

According to an official English-language version of the Commerce Ministry’s statement released by state media, “The two sides conducted a constructive dialogue on such issues as strengthening bilateral coordination of macroeconomic policies and the implementation of the China-U.S. phase-one economic and trade agreement,” 

“The two sides agreed to create conditions and atmosphere to continue pushing forward the implementation of the trade deal.”

US and China have been facing tensions from the last two years. Trump’s government had levied huge tariffs on Chinese goods. Beijing has also imposed duties. 

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