Trump 'not interested' in reopening talks on trade deal with China

Hong Kong based cargo ship Mol Brilliance sits docked at the Los Angeles Port after arriving from Yantian China in Los Angeles California USA 08 August 2019. Tensions between China and the US continue to escalate as the US threatened to apply more

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One of the officials said the possibility of cancelling the Phase 1 deal and restarting negotiations on another agreement is not high.

The Global Times is published by the People's Daily, the official newspaper of China's ruling Communist Party.

Under the January deal, China agreed to increase its purchases of U.S. goods from a 2017 baseline by Dollars 200 billion over two years.

China is committed to its Phase 1 trade deal with the United States and is working towards meeting its promise to boost USA purchases, even though the pace of buying has been restrained by the coronavirus outbreak, three Chinese sources said.

Trump himself has considered abandoning the deal which he signed in January to ease a trade war he started with Beijing two years ago. US officials said China agreed to address complaints about its technology policies.

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A new list of U.S. products to be exempt from trade tariffs has been announced by China's finance ministry on Tuesday.

For US products that are not on the first two lists, the commission advised enterprises to apply for the exemption of additional tariffs following a specific product list that applies to domestic firms which plan to sign deals to purchase and import these products from the United States in a market-oriented and commercial fashion.

US President Donald Trump on Monday ruled out renegotiating that deal, when asked about reports that China was looking to reopen talks.

Last week, USA and Chinese trade negotiators promised to create "favorable conditions" for carrying out the truce, China's government announced.

China has demanded evidence for such incendiary accusations, arguing that the Trump administration is simply trying to deflect attention away from its poor handling of the pandemic.

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The president would also be able to impose restrictions on loans to Chinese businesses by US institutions and ban Chinese firms from listing on USA stock exchanges.

Earlier, a key economic advisor to the president blamed Beijing for the pandemic and said China should have to pay compensation for damage caused.

On Monday, a new source of tension opened up, with reports that the administration is planning to issue a warning that computer hackers tied to the Chinese government are attempting to steal information from U.S. researchers.

"It's in fact in China's interests to terminate the current Phase One deal", a trade adviser to the Chinese government told the Global Times, citing the weakening United States economy and upcoming USA presidential elections.

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