August 11, 2020
AliExpress WW
Trump Says 'Phase 2' China Trade Deal "Unlikely" At This Point

Trump Says ‘Phase 2’ China Trade Deal “Unlikely” At This Point

AliExpress WW

Update (1230ET): Despite the fact that it took several minutes, the market ultimately fell into the headlines of the trading sessions and exited its peak session indicators, as Trump told reporters that the Phase 2 deal was no longer on its agenda.

AliExpress WW

“I don’t think about it now,” he said.

* * *

The day after Democratic candidate Joe Biden tried to disgrace presidential rhetoric about defending an American worker, President Trump reinforces his rhetoric against China, declaring for the first time that the Phase 2 trade is “unlikely” due to appeal China with coronaviruses, which “seriously damaged” bilateral relations.

  • TRUMP SAYS PHASE SECOND TRANSACTION IN CHINA TRADE
  • TRUMP: OUR RELATIONS WITH CHINA ARE VERY DAMAGED

Probably, we can safely assume that Phase 1 is now almost dead (although China may or may not continue to buy American agricultural products and energy as much as it wants or needs), which is not surprising: skepticism about Anyway, China, which held the end of its deal, was high from the start.

Trump made comments aboard Air Force One, saying: “They did not allow him to enter the remaining parts of China from Wuhan. They could stop the plague, but did not. Relations with China have been seriously damaged. ”

Back in May, Trump said he was “very nervous” about whether to abandon Phase 1 in retaliation or leave it in place. Others, including Finance Minister Mnuchin, defended the deal and assured the public that it would remain valid.

However, Pete Navarro caused a lot of discontent among Mnuchin, Kudlow and their allies when he told Fox reporter that the P1 was “over”. He was forced to decline these comments, but we suspected that they had more truth than the administration recognized.


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