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China is wary of signing Phase I trade agreement

Summary

What Phase 1 of Trump’s China trade deal includes — and what it doesn’t Description video: After two years of escalating threats and tariffs, the U.S. and China have signed a trade deal. In what is known as Phase 1 […]

What Phase 1 of Trump’s China trade deal includes — and what it doesn’t

Description video:
After two years of escalating threats and tariffs, the U.S. and China have signed a trade deal. In what is known as Phase 1 of a larger agreement, Beijing pledged to increase purchases of U.S. goods, while U.S. tariffs remain on $360 billion of Chinese imports. Nick Schifrin reports and Judy Woodruff talks to Peter Navarro, director of the White House Office of Trade and Manufacturing Policy.\n\nStream your PBS favorites with the PBS app: https://to.pbs.org/2Jb8twG\nFind more from PBS NewsHour at https://www.pbs.org/newshour\nSubscribe to our YouTube channel: https://bit.ly/2HfsCD6\n\nFollow us:\nFacebook: http://www.pbs.org/newshour\nTwitter: http://www.twitter.com/newshour\nInstagram: http://www.instagram.com/newshour\nSnapchat: @pbsnews\n\nSubscribe:\nPBS NewsHour podcasts: https://www.pbs.org/newshour/podcasts\nNewsletters: https://www.pbs.org/newshour/subscribe

China is wary of signing Phase I trade agreement

According to information in the Chinese media, the PRC authorities are counting on additional negotiations with the United States before the first phase of the agreement is signed..

The Trump administration announced last week that suspends tariff increases from 25% to 30% on $ 250 billion in Chinese goods. The restrictions were supposed to take effect on October 15th. China expects December tariff hike to be postponed.

«While the talks seem to have led to a fundamental understanding of key issues and a warmer relationship, the champagne is probably too early to open, at least until both leaders sign the first phase of the agreement.», – wrote in China Daily.

Journalists highlight the Trump administration’s unpredictability when it comes to foreign policy.

«Based on its past practice, Washington can always decide to cancel a deal if it believes it will be in its best interest.», – believe in the publication.

China is wary of signing Phase I trade agreement

Newspaper People’s Daily, owned by the Chinese Communist Party, wrote about this «there should be no winners or losers in a trade war».

The United States and China, the world’s two largest economies, have been embroiled in a protracted trade conflict for over a year, casting a shadow over global economic growth..

President of the U.S.A Donald Trump stated that the first stage trade deal will be developed within the next three weeks . In the first phase, China will buy US agricultural products in the amount of 40-50 billion dollars.

The second phase will begin almost immediately after the signing of the first phase, Trump told Chinese Deputy Prime Minister Liu He.