Trump, Xi Reaffirm Commitment to Phase-One Trade Deal
Trump, Xi Reaffirm Commitment to Phase-One Trade Deal
(Bloomberg) --
U.S. President Donald Trump and Chinese President Xi Jinping reaffirmed their commitment to implementing the phase-one trade deal signed between the two countries last month.
The two presidents “agreed to continue extensive communication and cooperation between both sides,” the White House said in a readout of the leaders’ call on Friday, China time. “They also noted the great achievement of the recent United States – China Phase One Trade Deal and reaffirmed their commitment to its implementation,” it said.
Trump expressed “confidence in China’s strength and resilience in confronting the challenge of the 2019 novel coronavirus outbreak”, the White House said.
China announced Thursday that it would cut tariffs on U.S. goods, reciprocating a U.S. move and likely satisfying part of the trade agreement. However, the virus outbreak has raised concerns that China might not be able to make the purchases it promised and fulfill the terms of the deal.
Earlier this week, Bloomberg reported that Chinese officials were hoping the U.S. will agree to some flexibility on the pledges in the deal, people familiar with the situation said, though it is unclear if such a request has been formally raised.
The phase-one deal is beneficial to China, the U.S. and the world’s peace and prosperity, Xi was cited as saying in a separate report by China’s state-run Xinhua News Agency. China hopes the U.S. can work in concert with China to implement the consensus, and promote bilateral ties to develop on the right track this year, Xi said.
Xi also hoped the U.S. would “calmly evaluate the epidemic, and reasonably respond”. The two sides should keep in contact and work together to contain the disease, he said.
“China has taken the most comprehensive and strict measures to prevent and control the epidemic,” Xi was quoted as saying. “There has been some progress. China is fully confident and capable of winning the battle against the epidemic. The long-term trend for China’s stable economic development has not changed,” he added.
To contact Bloomberg News staff for this story: Miao Han in Beijing at mhan22@bloomberg.net
To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, James Mayger, Robert Fenner
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With assistance from Bloomberg