The US and China have delayed a review of their Phase 1 trade deal initially slated for Saturday. YahooFinance
WASHINGTON - The United States and China have delayed a review of their Phase 1 trade deal initially slated for Saturday, sources familiar with the plans told Reuters, citing scheduling conflicts and the need to allow time for more Chinese purchases of U.S. exports.
One source familiar with the talks said the delay was related to a conference of senior Communist Party leaders at the seaside town of Beidaihe on China's northeast coast. The postponement did not reflect any substantive problem with the trade deal, the source said, adding:"The new date has not been finalized yet."
China's imports of U.S. farm and manufactured goods, energy and services are well behind the pace needed to meet a first-year target increase of $77 billion over 2017 purchases. Trump administration officials have signaled that they are satisfied with the pace of purchases in recent weeks and have no plans to abandon the trade deal, which also includes some increased access for U.S. financial services firms in China, strengthened intellectual property protections and removal of some agricultural trade barriers..
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