Trump administration ‘satisfied’ with China purchase progress in Phase 1 trade deal – Kudlow

Trump administration ‘satisfied’ with China purchase progress in Phase 1 trade deal – Kudlow

WASHINGTON White House economic adviser Larry Kudlow on Thursday said the Trump administration is satisfied with China’s progress in meeting commitments to purchase U.S. goods in a Phase 1 trade deal, signaling that the pact will survive an initial review on Saturday.

China “is now really picking their imports of our commodities — which is a great boon, by the way, for the U.S. agriculture and farm sector,” Kudlow told reporters at the White House, recounting U.S. Trade Representative Robert Lighthizer’s comments to President Donald Trump.

Lighthizer and Chinese Vice Premier Liu He on Saturday will conduct the first semi-annual review of the trade deal’s implementation in a videoconference.

Despite rapidly rising tensions between Washington and Beijing over the coronavirus pandemic, a security crackdown in Hong Kong, U.S. sanctions against Chinese companies and officials and human rights issues in Xinjiang province, the Phase 1 trade deal, signed on Jan. 15, has weathered the storm.

“We have big differences with China on other matters, but regarding the Phase 1 trade deal, we are engaging,” Kudlow said.

Amid the coronavirus pandemic, China’s purchases of U.S. farm and manufactured goods, energy and services have gotten off to a slow start and are well behind the pace needed for a promised increase of $77 billion this year and $200 billion over two years.

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Democratic presidential candidate Joe Biden and Kamala Harris will make their first joint appearance as running mates in Delaware later on Wednesday.

Mr Biden, who will face President Donald Trump in the election on 3 November, named Kamala Harris as his vice-presidential pick on Tuesday.

He is expected to formally introduce Ms Harris as his choice for vice-president and both are expected to speak.

Senator Harris is the first black woman and South Asian American in the role.

Mr Biden and Ms Harris will deliver remarks in Wilmington, Delaware, later on Wednesday on “working together to restore the soul of the nation and fight for working families to move the country forward”, the Biden campaign said.

Who is Kamala Harris?

Ms Harris, 55, was born in Oakland, California, to two immigrant parents – an Indian-born mother and Jamaican-born father.

She went on to attend Howard University, one of the nation’s preeminent historically black colleges and universities. She has described her time there as among the most formative experiences of her life.

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