US-China Trade Deal

Trump and Chinese President Xi Jinping signed the Phase One deal in January

Trump attacked Beijing for coronavirus, saying the "plague from China" should have never happened but it did especially when the United States had just signed a new trade deal with the Asian giant.

The US and China had signed a deal in January to end their 22-month-long trade war during which the two countries slapped tit-for-tat tariff hikes

Trump said he was very disappointed with China's failure to contain the coronavirus outbreak

The deal brought a partial truce to an 18-month trade war between the world's two largest economies that heaped U.S. tariffs on some $370 billion worth of Chinese imports

The two sides agreed to maintain communication going forward, the Chinese commerce ministry said in its statement.

China and the US in January signed Phase-1 of the trade deal as the world's two top economic powers move forward to end their bitter tit-for-tat two-year tariff war

The joint venture - 60 per cent held by ArcelorMittal and the balance by Nippon Steel - was renamed AM/NS India

Both nations agreed to cut tariffs on each other's' goods as part of the phase-one deal signed last month

The new coronavirus has killed more than 250 people and infected nearly 12,000 across the country

Positive developments on US-China trade deal front led to renewed buying interest by the FPIs

Both governments had hoped to work out a limited trade deal last year, but struggled to reach an agreement.

Speaking here at the World Economic Forum (WEF) annual meet, whose theme is 'Stakeholders for a Cohesive and Sustainable World', Trump said it is time for optimism and not pessimism.

He also announced that the US will join the 1 trillion trees initiative being launched at WEF.

Noting that a turning point is yet to be reached, the IMF said it was slightly revising downwards the growth outlook for the global economy.

President Donald Trump on Sunday hailed the trade deal signed last week with China for dramatically improving relations with Beijing, saying it was "much better" than he expected. The "phase one" deal marks a truce in the two countries' trade war after nearly two years of tensions. But with tariffs still in place on two-thirds of more than USD 500 billion worth of imports from China, US consumers and businesses will be left to foot the bill. "This is an incredible success for our entire country," Trump said Sunday evening at a rally in Austin, Texas. He was speaking to a convention of the American Farm Bureau Federation. "I think China's gonna go all out to prove that the agreement that was signed is a good agreement. It's much bigger and much better than I ever thought we'd get," he said. Trump also praised a new chapter in relations with Beijing, calling it "the best relationship that we've ever had with China in many, many years." "China respects us now," Trump said. "They did

The China accord doesn't eliminate the negative impact of the trade dispute because Trump is continuing his existing tariffs covering $360 billion a year worth of Chinese goods

Beijing and Washington touted the "Phase 1" agreement as a step forward after months of stop-start talks, and investors greeted the news with relief

The terms of the deal imply an absolutely massive increase in Chinese imports of US energy, and if this actually comes to pass, it will have serious disruptive effects across global markets

"I'm leaving them on because otherwise we have no cards to negotiate with," Trump said at a White House event to sign the Phase 1 deal