US trade groups urge China to boost purchases under phase 1 trade deal

Dhwani Mehta FXStreet

In a letter to US Treasury Secretary Steven Mnuchin, Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He on Monday, the country’s Chamber of Commerce and over 40 trade associations called on Beijing to accelerate their purchases of the US good and services, as agreed under the Phase 1 trade deal signed by the world’s two largest economies in January, per Reuters.

Jeremie Waterman, Head of the Chamber’s China Center, said: “There are areas where we see less progress and where we think it’s critical that both sides redouble efforts.”

White House Chief of Staff Mark Meadows noted that US President Donald Trump was considering several executive orders targeting China and manufacturing, but offered no specific details.

USD/CNH Price Analysis: Refreshes multi-week low amid Chinese optimism

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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