Will cancel trade deal if China fails to buy goods worth $200 bn : Trump

The Phase 1 deal has ended tariffs of around $155 billion worth of Chinese imports that were set to take effect at the end of 2019 and halved tariffs to 7.5 per cent on another $120 billion in goods

US President Donald Trump has threatened to terminate the Phase One trade deal with China if the country fails to fulfill its promise of buying $200 billion more of American goods and services.

During a virtual town hall from the Lincoln Memorial in Washington on Sunday (local time), Trump said that Chinese President Xi Jinping had only agreed to the deal because of the Washington-imposed tariffs which "at a minimum are the greatest negotiating tool that we have ever devised that we never use", South China Morning Post reported.

"We are going to have to see what is going on (with the