Beijing does not mind revising the terms of the trade agreement with the United States, which cannot afford a new trade war. However, Trump does not want to hear about any revision.
US President Donald Trump has opposed the resumption of negotiations on a trade deal with China. He made the corresponding statement on Monday, May 11, at a press conference in the White House.
“No, it doesn’t interest me at all. It’s not even a little interesting. We made a deal. However, I heard that China would like to resume negotiations in order to negotiate better conditions for itself,” Trump said.
Beijing wants to break the agreement
The topic of the revision of the transaction arose after the publication in the Chinese state publication Global Times of information that advisers to the Chinese authorities insist on the resumption of negotiations with the United States over the deal. The United States, in their opinion, weakened during the coronavirus pandemic and can no longer afford to wage a trade war with China. Thus, it is in Beijing’s interests to break the agreement and conclude it under new conditions.
Beijing and Washington signed an agreement on January 15 after an ongoing year and a half of a trade war between the two countries. This document obliges Beijing to sharply, at least by $ 200 billion in two years, increase imports of American products. In particular, purchases of energy from the United States, namely oil, oil products, gas and coal, should grow by $ 52.4 billion over this period compared to 2017.