Positive Signs After China-U.S. Phone Call on Phase One Trade Deal
What’s new: Chinese Vice Premier Liu He spoke with the U.S. Trade Representative (USTR) Robert Lighthizer and Treasury Secretary Steven Mnuchin by phone on Monday, in a six-month review of their phase one trade deal signed in January that effectively put on pause the protracted trade war between the world’s two largest economies.
In the phone call, previously scheduled for Aug. 15, the two countries’ top trade negotiators made positive signs that both sides “see progress and are committed to taking the steps necessary to ensure the success of the agreement,” according to a statement release by the office of the USTR.
What’s more: The two parties “addressed steps that China has taken to effectuate structural changes called for by the agreement that will 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,” the office of the USTR said.
“The two sides conducted a constructive dialogue on such issues as strengthening bilateral coordination of macroeconomic policies and the implementation of the China-U.S. phase-one economic and trade agreement,” China’s Commerce Ministry said in a statement.
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