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Delayed US-China trade review could give Beijing some breathing space as Donald Trump seeks re-election
- The two sides were due to review their phase one trade deal after six months, but one observer said the delay was ‘no bad thing’
- China says it has tried to honour the deal to buy more US goods, but the coronavirus pandemic has been a problem
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The United States and China have reportedly delayed a review of their Phase 1 trade deal initially scheduled for Saturday.
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The review slated for Saturday was delayed because of scheduling conflicts with the annual Beidaihe meeting, where the top Chinese leadership discusses key policy issues, and no new date had been set, according to Reuters.
Some Chinese analysts said the delay was “not a bad thing” as China could continue buying US goods and allow it to swerve increasing demands from the Trump administration in the run-up to the US presidential election.
News of the delay surprised the markets because the US had struck a positive note the day before, with White House economic adviser Larry Kudlow saying that the administration was “satisfied with China’s progress”.
Chinese officials never confirmed a date for the planned video conference. When asked about the talks on Friday and Saturday, both the foreign and commerce ministries said only that information would be released once confirmed.
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