China Pledged to Adhere to Phase 1 Trade Agreement

China Pledged to Adhere to Phase 1 Trade Agreement China has pledged to adhere to the Phase 1 trade agreement. Chinese Foreign Minister Wang Yi assured in a video conference that he would adhere to the trade agreement. According to a statement made by US-China Business Council Chairman Craig Allen, Chinese Foreign Minister Wang Yi stated in a video conference held on Sunday that he will adhere to the phase 1 trade agreement to US executives. Commenting on the matter, Allen said, “Wang definitely expressed his commitment. This is how the system works on the Chinese side. They will keep their promises. " While the current President of the United States, Donald Trump, drafted regulation for Chinese companies on the grounds that they had ties with the military, and Elected President Joe Biden took a tough stance towards Beijing. The US-China business council represents a total of 240 companies doing business with China. Although the Council welcomed the trade agreement signed in January, China had a hard time meeting its targets. “They're behind, yes, but it's a two-year deal." Allen said, "This agreement has been successful in changing China's competitive policies on equal terms. This is what the Phase 2 deal is all about.”