June 3, 2020

US Senate Finance Committee chairman says China will maintain commitments in Phase 1 trade deal

The chairman, Senator Chuck Grassley said Robert Lighthizer, US Trade Representative spoke with Liu He, China's Vice Premier and confirmed that China will maintain its commitments under the US-China Phase 1 trade deal, Reuters reported.

Grassley hoped that any suspension in China's imports of US pork and soybeans were temporary measures.

State-owned Chinese companies purchased three cargos of US soybeans on June 1, even as sources said China has imposed a suspension on imports from the US. This announcement came after US said it will end special treatment for Hong Kong.

A spokesman for Senator Grassley said the discussion between Robert Lighthizer, US Trade Representative and Liu He, China's Vice Premier was also attended by Steven Mnuchin, US Treasury Secretary.

The US Trade Representative said both countries believe there has been good progress in meeting their requirements of the Phase 1 trade deal.

-      Reuters