Beijing: The Chinese commerce ministry said on Thursday that China and the united states of America have agreed to hold trade talks to evaluate the progress made on the Phase 1 trade deal “in the coming days”.
Both sides would be going back to the negotiating tables 6 months after the Phase 1 trade deal was signed in January. Ministry Spokesperson Gao Feng made the comment at the online weekly briefing
This statement from the spokesperson comes after the US President Donald Trump said that the August 15th review of the trade pact was postponed in frustration over Beijing’s handling of the COVID-19 virus pandemic.
The deal reached in January brought an end to the 2 year long trade war between 2 of the worlds largest economies. It set an ambitious target for China to buy US farm products and manufactured goods.
This review comes after the deterioration of the trade ties in recent months. The disagreements have moved beyond trade and into areas such as origin of corona virus national security concerns around Chinese tech firms and Hong Kong’s autonomy.