U.S.-China Trade Deal Phase 2 looks improbable, officials say

25.11.2019 - Davydova Maria
U.S.-China Trade Deal Phase 2 looks improbable, officials say

Phase 2 of the U.S.-Sino trade deal is looking less probable as officials of both parties bared. This is after the “phase 1” agreement is not settled by the two countries.

U.S. President Donald Trump said during his conference with Chinese vice Premier Liu He in October that he wanted to have a “phase 2” of the agreement right after the first phase has been completed.

But recent developments, including the U.S. being reluctant to work with other countries to pressure China, are pushing the second phase of the trade deal on the brink of oblivion.

Chinese officials said they will wait for the U.S. election and see if Trump will win his second term before pushing through to the next level.

“It’s Trump who wants to sign these deals, not us. We can wait,” said a Chinese official.

“We need an international coalition to successfully attack phase two,” Kellie Meiman Hock said.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?