Trump casts doubt on future of China trade deal

Trump casts doubt on future of China trade deal

Trump casts doubt on future of China trade deal

The call is likely to be on the progress in implementing the Phase One trade deal following threats from US President Donald Trump about the agreement.

The president has had some tough talk about China and its role in the coronavirus outbreak which started in Wuhan, China.

The renewed risk-on wave seen in Europe seems to be unfazed by the above piece of news, as S&P 500 futures rally 1.40% while AUD/USD extends the bounce to near 0.6470 region.

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Stocks rose Friday after top negotiators from China and the United States vowed in a phone call to continue to support phase one of the trade deal.

"The EU delegation decided nevertheless to proceed with publication of the op-ed with considerable reluctance as it was considered important to communicate on key EU policies", the Commission said during its daily news briefing. In a release yesterday, the two governmental departments said they discussed trade issues between Washington and Beijing, as well as updates on the COVID-19 health crisis and its impact on economic growth.

Despite the move, Chapuis retains the confidence of his superiors and Battu-Henriksson said that he "is an outstanding expert of China and is a true asset" to the bloc, having been sent on diplomatic assignment to the country six times.

The uncertainty and weaker economy caused by the pandemic could impact China's ability to meet those targets, including through lower domestic demand, clogged logistics and supply chains, and reduced USA capacity to supply goods and services. Wall Street was projecting job losses of 22 million.

"The Phase 1 agreement will set the rules of engagement even after the pandemic has receded", said Jamieson Greer, who was chief of staff for Robert Lighthizer, the USA trade representative, until a month ago and is now a partner at King and Spalding, a Washington law firm. The Trump administration has accused Beijing of trying to cover up the outbreak and said the USA has evidence that the virus emerged from a Wuhan lab, though officials are not certain about its origins.

It said Chapuis had been reluctant to agree to the cut, but did so because he was under "time pressure", and gave the go-ahead without checking first with member states.

-China relationship have weighed on stock markets in recent days.

"I am shocked not once but twice: First the #EU ambassadors generously adopt #Chinese narratives & then the European Union representation on top accepts Chinese censorship of the joint op-ed", German politician Norbert Röttgen said on Twitter.

The imports to China include $32 billion in additional agricultural purchases, $52 billion in energy products and $78 billion in additional manufactured goods. "It's insane the USA government hasn't done anything".

Since then, however, he has adopted a more critical tone of China's handling of the virus, slamming the World Health Organization for apparently taking China at its word about the nature and spread of the pandemic.

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