report

Trump: China Phase Two Agreement Unlikely

Clint Thompson Export/Import, Exports/Imports

implementing

President Donald Trump recently told reporters a Phase Two agreement with China is not likely. The President said aboard Air Force One last week, “I don’t think about that,” adding, “The relationship with China has been severely damaged.”

Bloomberg News reports the Trump administration continues to pressure China over the COVID-19 outbreak, alleging a cover-up by China, among other things. Regarding his relationship with China, Trump says, “They could have stopped the plague, they didn’t.”

trump
President Donald Trump and Chinese President XI Jinping

The Phase One agreement included $200 billion of U.S. agriculture exports over two years. However, trade analysts say China isn’t purchasing at a pace to reach that level yet, and some say the level of purchases needed to meet the total is unattainable.

Last month, state-owned companies in China suspended purchases from the United States over political issues. Also, Trump said the Phase One agreement was “fully intact,” the same day adviser Peter Navarro said it was effectively dead.

(From the National Association of Farm Broadcasters)