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Phase 2 of the U.S.-Sino trade deal is looking less probable as officials of both parties bared. This is after the “phase 1” agreement is not settled by the two countries.
U.S. President Donald Trump said during his conference with Chinese vice Premier Liu He in October that he wanted to have a “phase 2” of the agreement right after the first phase has been completed.
But recent developments, including the U.S. being reluctant to work with other countries to pressure China, are pushing the second phase of the trade deal on the brink of oblivion.
Chinese officials said they will wait for the U.S. election and see if Trump will win his second term before pushing through to the next level.
“It’s Trump who wants to sign these deals, not us. We can wait,” said a Chinese official.
“We need an international coalition to successfully attack phase two,” Kellie Meiman Hock said.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
KYC Policy