It is noted that China has significantly increased purchases of agricultural products in the U.S.
The US authorities are satisfied with the way China is now fulfilling the terms of the first phase of trade agreements between Beijing and Washington. The head of the White House National Economic Council Lawrence Kudlow said this on Thursday on Fox News.
“As far as trade is concerned, we are cooperating as long as [U.S. trade negotiator Robert] Lightheiser is satisfied with the progress”, – said U.S. presidential aide Donald Trump. Kudlow pointed out that China has significantly increased U.S. agricultural purchases. He disagreed with the reporter’s remark that due to growing tensions between Beijing and Washington, “a deal can be said goodbye”.
Speaking of the Chinese authorities, Kudlow noted, “I am not claiming that they will keep their promises regarding all the components of the [trade] arrangements. We don’t know that yet.” As he explained, this includes compliance with “intellectual property rights” in China, as well as the practice of “coercion of technology transfer”.
Kudlow stressed that “otherwise, relations with China are not good”. “There are big problems”, – he said.
Trump said in July, the significance of the bilateral trade deal with Beijing had diminished amid a pandemic caused by the new coronavirus. At the same time, he admitted that China has started buying American agricultural products “in record volumes.
A ceremony to conclude agreements on the first phase of the trade deal between the two countries took place in Washington on January 15. The document was signed by Trump and Vice Prime Minister of the State Council of China Liu He. Beijing agreed to increase the purchase of American products by 76.7 billion and 123.3 billion dollars during the first and second year of the agreement. We are talking about both agricultural and other goods. Washington expects that by doing so it will be able to significantly reduce its trade deficit.