New trade deal is the work in progress, phase II is the next step
Despite the pervasive new coronavirus, China is still working on reaching previous trade agreements with the United States. The so-called phase 1 deal, which was signed in January, previously ended the trade war between the economic superpowers for the time being.
According to the Chinese ambassador to the US, Beijing still buys American agricultural products as agreed. Also, as part of the deal, restrictions that applied to foreign companies in domestic financial markets will be lifted.
“Even in the last few weeks, when we were faced with this very serious and very critical situation, we were still working on the implementation of the agreement,” said Ambassador Cui Tiankai in an earlier interview, the transcript of which was posted on the embassy’s website on Sunday. placed.
According to Cui, the corona virus has drastically changed the economic landscape. He hopes that both camps will properly assess the changing reality in further conversations and respond adequately.