US-China trade review postponed to allow time for more purchases
- One source says delaying the six-month compliance review will give China more time to buy American goods
- Donald Trump has said trade deal is ‘going very well’ but coronavirus means Chinese imports are behind schedule
The United States and China have delayed a review of their Phase 1 trade deal initially slated for Saturday, sources familiar with the plans told Reuters, citing scheduling conflicts and the need to allow time for more Chinese purchases of American exports.
No new date for the initial six-month compliance review between US Trade Representative Robert Lighthizer, US Treasury Secretary Steven Mnuchin and Chinese Vice-Premier Liu He has been agreed, the sources said.
The officials were expected to hold a videoconference on Saturday, the six-month anniversary of the trade deal’s February 15 entry into force as the coronavirus pandemic began spreading globally.
One source familiar with the talks said the delay was related to a conference of senior Communist Party leaders at the seaside town of Beidaihe on China’s northeast coast.
The postponement did not reflect any substantive problem with the trade deal, the source said, adding: “The new date has not been finalised yet.”
US President Donald Trump on Friday repeated his view that the trade deal was “doing very well,” but did not comment on the delayed meeting. The White House referred queries on the talks to Lighthizer’s office, which did not respond to a Reuters query about plans for the review.