China, US hold trade talks, agree to push forward phase one economic deal - watsupptoday.com
China, US hold trade talks, agree to push forward phase one economic deal
Posted 25 Aug 2020 12:39 PM

Image Source: Business Insider

Agencies:

Top Chinese and US negotiators spoke on the phone Tuesday and agreed to "push forward" their phase one economic deal, amid soaring tensions between the two sides on several fronts.

The US and China signed the accord in January, bringing a partial truce in their lingering trade war and obliging Beijing to import an additional $200 billion in American products over two years, ranging from cars and machinery to oil and farm products.

But the COVID-19 pandemic has put pressure on the agreement and China's purchases of those goods have been lagging. The two countries confirmed the talks in separate statements.

Washington said the parties �addressed steps that China has taken to effectuate structural changes called for by the agreement�.

Those changes, it said, would "ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture and eliminate forced technology transfer".

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