WASHINGTON - Negotiators from the United States and China will on Saturday discuss the "phase one" trade deal signed earlier this year -- before the coronavirus slammed the world economy and relations between the two economic powers took a turn for the worse.
"The outcome of the trade talk will signal if both sides are willing to continue to keep the deal, which will signal whether the relationship will deteriorate further," said Iris Pang, chief economist for greater China at financial services giant ING. "Until now, China has been relatively passive and the United States has been relatively proactive," said Raymond Yeung, chief economist for greater China at ANZ bank. "In my opinion, there shouldn't be much change coming from China in terms of trade, cooperation or opening up the market, the key still lies in the US side.
The US-based Peterson Institute for International Economics said Chinese agricultural purchases at the end of June were far from where they should be at that point in the year.
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