Trump doesn't rule out termination of trade deal with China
U.S. President Donald Trump has threatened to terminate the trade deal with China if Beijing did not honour its provisions in the wake of the coronavirus pandemic that originated in the country.
China and the U.S. in January signed Phase-1 of the trade deal as the world's two top economic powers move forward to end their bitter tit-for-tat two-year tariff war that had rattled markets and weighed on the global economy.
The deal, which calls on China to buy $200 billion worth of U.S. products, is set to move ahead as planned. However, the U.S.-China Economic and Security Review Commission in a report said China could invoke a clause in the agreement that allows for fresh trade consultations between the two countries "in the event of a natural disaster or other unforeseeable event".
"If that happens, we'll do a termination and we'll do what I can do better than anybody," The Economic Times cited Trump as saying.
The president was responding to a question as to how confident he is that the Chinese are not going to invoke the natural disaster clause mentioned in the trade deal.