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.