Phase two of the trade deal seems less likely as phase one has been struck. China USA
US President Donald Trump and his Chinese counterpart Xi Jinping. Both China and the United States have a clear interest in getting a phase one deal completed relatively soon to soothe markets and assuage domestic policy concerns,
But the November 2020 U.S. presidential election, the difficulties in getting the first-stage done, combined with the White House's reluctance to work with other countries to pressure Beijing are dimming hopes for anything more ambitious in the near future, the sources said. Trump's main priority at the moment is to secure a big phase one announcement, locking in big-ticket Chinese purchases of U.S. agricultural goods that he can tout as an important win during his re-election campaign, according to a Trump administration official.
But many of these critical concerns will not be addressed in the phase one agreement, which focuses on China agricultural product buys, tariff roll backs, and includes some intellectual property pledges. Both China and the United States have a clear interest in getting a phase one deal completed relatively soon to soothe markets and assuage domestic policy concerns, said Matthew Goodman, a former U.S. government official and trade expert at the Center for Strategic and International Studies.
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