US President Trump Rules Out Renegotiating Trade Deal With China

US President Trump Rules Out Renegotiating Trade Deal With China

May 15, 2020, 8:53 a.m.

US President Donald Trump has ruled out renegotiating the trade deal with China and expressed disappointment over Beijing's handling of the coronavirus outbreak. The US and China in the beginning of the year signed Phase-1 of a trade deal, ending a bitter two-year tariff war that had rattled the global economy.

"The Chinese said somewhere that they would like to renegotiate the (trade) deal. We are not going to renegotiate," Trump said. "Look, I'm not happy about anything having to do with that particular subject (China) right now. Everything I said turned out to be right. You look at other countries they charge us tariffs to do business and we are not allowed to charge them," he said.

The US has confirmed that the Trump administration has asked for the withdrawal of billions of dollars in American pension fund investments in China. The US and China relations have deteriorated after the coronavirus outbreak.

Source: India Today

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