The tension was growing in terms of trade between China and the US, but now it is showing some signs of relief. Top trade deputies from China and the US spoke on phone calls.
Representatives of the two countries agreed that cooperation on macroeconomic issues and public health issues will be enhanced. This was stated by china’s Ministry of Commerce in a statement.
According to news agency Reuters, during the conference call, Chinese Deputy Prime Minister Liu He, U.S. Trade Representative Robert Lithizer, and U.S. Finance Minister Steven Munchin also agreed that the two countries will work together to create a suitable environment for implementing the first-stage trade deal.
According to china’s Ministry of Commerce, the two sides agreed that further dialogue would be maintained. Things even worsened as US President Donald Trump warned that he would end the trade deal with China if it did not comply with the provisions.
Trump said there could be no one more strict towards China than him. It is noteworthy that there was a lot of rhetoric between the leaders of the two countries over the China-generated coronavirus epidemic. The U.S. power establishment is skeptical that the virus has not emerged from any Chinese lab. President Trump has repeatedly called it a “Chinese virus.”
U.S. suffers the most from corona
It is noteworthy that the US is currently witnessing the scourge of the coronavirus. More than 75,000 people have lost their lives in the United States so far due to coronavirus, while more than 12 million people are affected by the virus.
What was the agreement
China and the United States signed the first-stage trade deal in January this year. The two countries had prepared for the deal by forgetting the bitterness of the trade war that has been going on for nearly two years. The two-year trade war in the two countries had caused huge losses to the stock market and economy around the world.
Gracia is a senior writer at Get Ignite, where she covers media and advertising and co-hosts the Original Content podcast. Previously, she worked as a tech writer at Adweek, a senior editor at the tech blog VentureBeat, and a local government reporter at the Hollister Free Lance. She attended Stanford University and now lives in Brooklyn.