China and the US Promise to Honour Trade Agreements


China and the United States have once again pledged to honour agreements in the trade agreement between the major economic powers.


The earlier agreements of the phase 1 trade deal between the countries were confirmed by telephone on Tuesday.

The conversation between US trade envoy Robert Lighthizer, his Treasury Secretary Steven Mnuchin and Chinese Deputy Prime Minister Liu He brought some relief in the financial markets.

There was some nervousness when it turned out that China is lagging behind the agreements made with its purchases of American products.

It was the first time that high-level consultations had taken place since the beginning of May.

The talks were scheduled for August 15, exactly six months after phase 1 of the trade agreement was concluded.

US President Donald Trump put pressure on relations between the countries by accusing China of withholding information about the coronavirus.

He recently said he does not want anything to do with China at the moment. There is also disagreement about the new security law in Hong Kong.

Trump also accuses Chinese tech companies such as Huawei and TikTok of espionage.

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