Posting this as an ICYMI from overnight news, some reports out of China on renegotiating the phase 1 trade deal with the US
The Global Times, citing unnamed sources.
- Advisers suggested that Chinese officials revive the possibility of invalidating the trade pact and negotiate a new one
- Malicious attacks by the United States have ignited a “tsunami of anger” among Chinese trade insiders
- “It’s in fact in China’s interests to terminate the current Phase 1 deal,” a trade adviser to the Chinese government told the Global Times, pointing to the weakening U.S. economy and the upcoming U.S. presidential elections.”The U.S. now cannot afford to restart the trade war with China if everything goes back to the starting point.”
Trump responded during the US afternoon:
The Global Times is published by the People’s Daily, the official newspaper of China’s ruling Communist Party