The USA currently reviewing business deals with China, sources said that the new time for a half-yearly review of the first phase of trade deals between the two countries could not be decided. The USA and China have postponed the first phase of the business deal. This review was to be held on Saturday.
Sources say there was a dispute between the two on issues such as the time and duration of the meeting. In addition, American officials were wishing that China had more time to decide on the time it sought to increase imports of American goods. Sources also said that a new time for a half-yearly review of the first-stage business deals between the two countries has not been decided.
The review meeting was to take place between US Trade Representative (USTR) Robert Lighthizer and Finance Minister Steven Mucchin and China’s Vice Premier Lu Hee. This phase of the business deal between the two countries came into implementation on 15 February this year and its review meeting was proposed on 15 August. US President Donald Trump said on Friday that the business deal is meeting its goals well. He, however, did not reveal any reasons for the delay in the meeting.
In the meantime
The US Navy has shown its stamina to China by conducting maneuvers in the disputed South China Sea on Friday. On the other hand, China has objected to such an exercise, saying that by denying its claim in the South China Sea, the US has acted to increase tension.
Task Force 70 Air Operations Officer Joshua Fagan on the USS Ronald Reagan said, “Free movement in the Indo-Pacific region is necessary.” It is worth noting that the current exercise has been carried out amid increasing tension in the US and China.
The US has been constantly criticizing China for spreading the Coronavirus. It also alleges that Beijing is trying to capture the South China Sea and the land of neighboring countries under the cover of the epidemic. China claims possession of nine out of 10 of the South China Sea. In this way, trade of three trillion dollars is done in a year. Brunei, Malaysia, the Philippines, Taiwan, and Vietnam also claim it.