Double Click 728 x 90
Double Click 900 x 250

US, China to hold high level trade talks mid month


Syed Umarullah HussainiWeb Editor

05th Aug, 2020. 10:43 am
Double Click 160 x 600
US

The United States and Chinese Officials agreed to high-level talks mid-month to assess Beijing’s compliance with the bilateral trade agreement.

According to the details, U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, the main negotiators for both countries, will join the meeting,

Given the global coronavirus recession, China is lagging behind its first-year goal of a $77 billion rise in purchases.

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 phase one first-year goal of $25.3 billion.

Meanwhile, Trump has threatened to end the trade pact over China’s handling of the coronavirus.

Last month tensions between China and the US intensified after the Trump administration ordered the closure of the Chinese consulate in Houston.

Chinese foreign ministry spokesperson Wang Wenbin said that the order constituted an “unprecedented escalation” in tensions, following months of deteriorating relations between Washington, D.C., and Beijing.

“If the U.S. continues to go down the wrong path, we will resolutely respond,” Wang said,

Wang’s remarks came hours after Houston emergency services were called to the consulate following reports of staff burning documents there.

Double Click 300 x 250

Download BOL News App for latest news