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U.S. Democratic presidential candidate and former Vice President Joe Biden[/caption]
U.S. Democratic presidential candidate Joe Biden said Wednesday (August 5, 2020) about President Donald Trump's increasingly strained relations with China the Republican multilateral trade agreement has failed badly.
Commerce Department data showed the U.S.-China trade deficit widened 5% to $28.4 billion in June from the month prior and confirmed that Beijing is falling well short of its commitments to buy U.S. goods. Trump has made closing the imbalance a pillar of his economic diplomacy.
“Trump’s ‘phase one’ trade deal with China is failing - badly,” Biden said in a statement sent to Reuters.
Ken Farnaso, a spokesman for Trump’s re-election campaign, shot back that Biden was “beholden” to Chinese President Xi Jinping and pursued “weak appeasement polices” when he was vice president.
The dueling statements underscored the value both presidential contenders place on staking out a tough-on-China stance ahead of the Nov. 3 election. Many American workers and businesses see China’s decades-long rise as coming at their expense.
Under the Phase 1 deal, China pledged to boost purchases of U.S. goods by some $200 billion over 2017 levels, including agricultural and manufactured products, energy and services. Battered by the global coronavirus recession, China is far behind the pace needed to meet its first-year goal of a $77 billion increase. Find more...
Source: Online/SZK
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