US And China Will Hold Trade Talks in The Coming Days

The United States and China have agreed to return to the negotiating table in the coming days to review progress on the “phase one” trade agreement, according to the Chinese Ministry of Commerce.

The ministry said the two sides would hold a “discussion by phone.” This comes after the talks that were scheduled to take place last Saturday were postponed due to a conflict of dates, according to Reuters.

The “Phase One” trade agreement signed in January halted a devastating trade war between the world’s two largest economies that included the imposition of retaliatory tariffs on billions of dollars worth of goods.

Among other things, the agreement obligated China to purchase at least an additional $ 200 billion in US goods and services over two years on top of its 2017 purchases. But Beijing has failed in this so far, in part due to the Corona pandemic that has hit Chinese demand.

The review of the trade agreement comes as relations between the United States and China have deteriorated in recent months.