US President Donald Trump threatens to terminate trade deal
United States President Donald Trump has threatened to terminate the trade deal with China, if Beijing did not honour its provisions in the wake of the Corona virus pandemic.
The US-China Economic and Security Review Commission in a report said, China could invoke a clause in the agreement that allows for fresh trade consultations between the two countries in the event of a natural disaster or other unforeseeable event.
China and the US in January signed Phase-1 of the trade deal as the world’s two top economic powers move forward to end their bitter tit-for-tat two-year tariff war that had rattled markets and weighed on the global economy.
President Trump launched the trade war with China in 2018, demanding Beijing to reduce the massive trade deficit, which was 375.6 billion US Dollars in 2017.
