An ambitious “phase two” trade deal between the United States and China is looking less likely as the two countries struggle to strike a preliminary “phase one” agreement, according to U.S. and Beijing officials, lawmakers and trade experts.Reuters:
- During a presser with China’s vice premier Liu He, Trump claimed he really wanted to jump into the Phase 2 part of a trade deal with the country.
- Phase 2 would focus on intellectual property issues.
- However, neither country could come to an agreement on Phase 1 of a trade deal.
- Trump has failed to get other countries to pressure China to help secure a deal with China.
- Sixteen months of Trump’s Trade War has hurt businesses, bankrupted farmers, “disrupted global supply chains, and been a drag on economies worldwide.”
- Officials do not foresee a deal anytime soon.
- Officials also claim that Beijing is also in no hurry to strike a deal with Trump on trade because they want to see if voters foolishly re-elect him.
“It’s Trump who wants to sign these deals, not us. We can wait,” one Chinese official told Reuters.