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TOP ADMINISTRATIVE OFFICIAL SAYS CHINA TRADE DEAL IS "FINE," MOVING AHEAD
Aug. 14, 2020
Farm Progress reports:
The trade deal is "fine" and China is "substantially" increasing purchases of American goods, President Donald Trump's top economic adviser Larry Kudlow said, dismissing concerns that rising tensions between the two countries might jeopardize the deal.
The "one area we are engaging is trade," Kudlow told a White House news conference on Tuesday. China continued to promise to implement the "phase-one" trade deal, and the evidence showed the country was increasing purchases, especially of commodities.
The trade deal offers hope that the two countries can continue to work together. In January, China promised to buy an additional $200 billion of U.S. goods and services over the 2017 level by the end of 2021. That agreement paused a bruising trade war between the world's two largest economies, although the relationship has deteriorated on almost every other front since then.
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