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The US is satisfied with the implementation of trade agreements by China

The US is satisfied with the implementation of trade agreements by China

The US authorities are satisfied with how China is currently fulfilling the terms of the first stage of trade agreements between Beijing and Washington. This was started on Thursday on the Fox News channel by the head of the national economic Council of the White House, Lawrence Kudlow.

“As far as trade is concerned, we are interacting as long as [US trade negotiator Robert] Lighthizer is satisfied with the progress,” said an aide to US President Donald Trump. Kudlow pointed out that China has significantly increased purchases of agricultural products in the United States. He did not agree with the journalist's remark that due to the growing tension in relations between Beijing and Washington, “the deal can be said goodbye.”

Speaking about the Chinese authorities, Kudlow said: “I do not claim that they will fulfill their promises regarding all the components of [trade] agreements. We don't know that yet.” As he explained, it is, in particular, about the observance of “intellectual property rights” in China, as well as the use of the practice of “forcing the transfer of technology”.

Kudlow stressed that “in the rest of the relations with China are not good.” “There are big problems,” he said.

As Trump said in July, the significance of the bilateral trade deal with Beijing has decreased amid a pandemic caused by a new coronavirus. At the same time, he acknowledged that China has begun purchasing American agricultural products “in record volumes.”

The signing ceremony for the first phase of the trade deal between the two countries took place on January 15 in Washington. The document was signed by Trump and Vice Premier of the State Council of China Liu. Beijing agreed to increase the purchase of American products by 76.7 billion and 123.3 billion dollars during the first and second years of the agreement. We are talking about both agricultural and other goods. Washington expects that this way it will be able to significantly reduce the trade deficit.

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