President Donald Trump will meet with Xi Jinping’s Chinese counterpart on Friday, when US Trade Representative Jamieson Greer made the announcement. China denies that the agreement has been broken.
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In a social media post, a representative for the Chinese embassy in Washington stated that “China has scrupulously fulfilled its obligations under the Phase One Economic and Trade Agreement.”
President Trump may have more authority to impose more tariffs on China, which he has already imposed on the country in his second term, as a result of the investigation into unfair trade practices.
The administration appears to be looking for new ways to leverage Beijing, according to Wendy Cutler, a former US trade negotiator and current vice president of the Asia Society Policy Institute, who added another pressure point to encourage China to purchase more US soybeans and other goods.
The US imposed a number of tariffs on China in the name of greater “balance” to their commercial exchange at the conclusion of Trump’s first term in office in 2020.
Beijing agreed to purchase more US agricultural and manufacturing goods as part of that agreement.
The Office of the US Trade Representative claims that China has not followed up on its promise or other actions that involve forced technology transfers, financial services, or intellectual property protections.
For instance, in September, China hasn’t imported any soya beans from US farmers since 2018.
The Trump Administration’s initiation of this investigation highlights its commitment to protect American farmers, ranchers, workers, and innovators, as well as to establish a more reciprocal trade relationship with China for the benefit of the American people, according to Greer in a statement.
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Source: Aljazeera
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