President Donald Trump is so “annoyed” with Beijing over the coronavirus pandemic and other issues that the trade deal between the two countries is no longer as important to him as it used to be. This was stated by the adviser to the American leader Larry Kudlow.
During his speech on Fox News, he called the actions of Beijing in Hong Kong “very alarming.” He stressed that the trade deal between the two countries is now valid, but the Trump administration is monitoring whether Beijing is fulfilling its commitments.
He also noted that the government will support any American company that decides to return from China.
“We’ll do everything we can to cover the full costs and pay for the relocation if they return their supply chains and their production to the United States,” Kudlow Reuters quoted Tuesday, May 26.
American authorities have repeatedly accused China of concealing the scale of the COVID-19 outbreak. The U.S. president said he had information about the creation of the coronavirus in the Chinese Wuhan laboratory. U.S. Secretary of State Mike Pompeo said Washington had “enormous evidence” of artificial origin of the infection. Later, a bill was introduced in Congress allowing Trump to impose sanctions on Beijing for its refusal to cooperate in investigations into the origin of COVID-19. People’s Republic of China protested against the charges.
In addition, trade confrontation between the countries continues. In July 2018, Washington imposed duties of 25% on imports of 818 types of Chinese goods for a total amount of $34 billion a year. Beijing adopted mirror measures. Later on, the parties repeatedly introduced new duties.
On January 15, 2020 the parties signed an agreement on the first phase of the trade deal. Thus, Beijing agreed to increase purchases of American products by $76.7 billion during the first year and by $123.3 billion during the second year of the agreement.