US Stocks Gain on China and US Renewed Trade Deal Optimism

US Stocks Gain on China and US Renewed Trade Deal Optimism

China has increased its imports of us food since the pact was signed.

In an interview with Fox News on Friday, Trump said he felt "differently" today than he did when Washington and Beijing signed their "phase one" trade agreement early this year.

But Hua did not say the review should probe the origins of the virus, despite growing calls led by the USA and Australia for an global inquiry into the issue, which has become a key flashpoint in deteriorating tensions between Washington and Beijing.

It said they "agreed to maintain communication and co-ordination " but gave no additional details.

The uncertainty and weaker economy caused by the pandemic could impact China's ability to meet those targets, including through lower domestic demand, clogged logistics and supply chains, and reduced United States capacity to supply goods and services.

Nonetheless, the more conciliatory statements from the USA and Chinese trade officials helped to boost Wall Street stocks on Friday, along with a jobs report that was not as bad as feared.

The EU said on Friday that the decision by its ambassador Nicolas Chapuis to allow the change to the article in the English-language state-run China Daily newspaper was a "mistake".

The negotiators also agreed that "good progress" was being made on creating governmental infrastructures to make the Phase 1 trade deal a success, the USA office said. But Chinese imports from the United States have declined in recent months as a result of the coronavirus pandemic that has wreaked havoc on economies worldwide, raising doubts about whether Beijing could meet its targets. He said twice that he did not want to talk about any new tariffs. There was pressure from the Chinese government not to declare this a pandemic, and it became a political institution rather than a medical, scientific institution that it was created to be, Pompeo said, adding that the United States needs an institution that's going to deliver good outcomes for the American people.

The piece was jointly authored by the EU's ambassador Nicolas Chapuis along with the ambassadors to China for the EU's 27 member states to mark 45 years of EU-China diplomatic relations.

The US-China Business Council, which represents US companies doing business in China, said it was too soon to assess China's compliance with the trade deal, given that it only took effect on February 15 as a global health crisis was unfolding.

The European External Action Service was pressured to remove a reference to the "outbreak of the coronavirus in China" as an explanation for an abandoned EU-China summit.

A resumption of the trade war would be bitterly opposed by many US businesses. Under that deal, Beijing agreed to increase purchases of USA goods in exchange for Mr. Trump cutting some tariffs on Chinese products.

Since then, however, he has adopted a more critical tone of China's handling of the virus, slamming the World Health Organization for apparently taking China at its word about the nature and spread of the pandemic.

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