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US-China trade deal impacted by Covid-19 as bilateral trade slows

CHINA and the US have committed to fulfilling phase one their trade deal since the outbreak the Covid-19 pandemic, analysts have a recent decline in Chinese purchases of American soybeans and a drop in US imports in the first few months of this year

01 July 2020 - 19:00

CHINA and the US have committed to fulfilling phase one their trade deal since the outbreak the Covid-19 pandemic, analysts have a recent decline in Chinese purchases of American soybeans and a drop in US imports in the first few months of this year.

'But even under such circumstances, China has been emphasising that both sides should work together,' said State Council member Zhu Guangyao, reports Agence France-Presse.



Under the deal, Beijing agreed to import an additional US$200 billion in US products over two years, although economists question if this will happen with business activity hammered by the virus outbreak.



Mr Zhu said he expects the second stage of trade negotiations to touch on structural issues, stressing that the close connection between both economies comes from decades of hard work, and 'decoupling will not happen just because some people say it will'.



But he acknowledged that the current status of the US-China relationship is 'very unsatisfactory because channels of communication have been in a standstill'.


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