Daily Management Review

China Urges US To Create Appropriate Conditions To Implement Phase 1 Trade Deal


China Urges US To Create Appropriate Conditions To Implement Phase 1 Trade Deal
The United States will put an end to its current policy of taking restrictive and discriminatory measures specifically targeted against Chinese companies in the US, hopes China. 
The country’s Assistant Minister of Commerce Ren Hongbin said on Thursday that Beijing also hopes that the US will create favorable conditions that can be supportive enough for Beijing to implement the so called Phase 1 trade deal between the US and China.
This weekend, a review of the partial trade agreement between the two countries would be done during a video conference by senior US and Chinese officials where both sides are expected to comment on their respective grievances in a mutual relationship that is getting more tense every day. 
There has undoubtedly been a negative impact on Chinese purchases of US goods and services according to the Phase 1 trade agreement because of the novel coronavirus pandemic and the export control measures imposed by the US, Ren told a news conference on Thursday.
The imports of China from the US dropped by 3.5 per cent in the period between January and July compared to the same period a year ago and was far short of the annual purchase commitment of American goods and services made by China under the Phase 1 trade deal in which Beijing had pledged to increase imports from America.
“Under the current situation, it is required that the both sides need to work together and step up cooperation to overcome the difficult times,” said Ren.
“We hope U.S. would stop taking any restrictions and discriminatory action against Chinese companies and create conditions for the implementation of the Phase 1 trade agreement.”
In the run up to the US presidential elections in November, the tensions between the United States and China have been increasing rapidly. Sweeping bans on U.S. transactions with the Chinese owners of messaging app WeChat and video-sharing app TikTok have been issued by US President Donald Trump.