China continues its purchases of U.S. commodities under the Phase One agreement signed between the U.S. and China to start the year, with White House economic adviser Larry Kudlow telling reporters the deal is “fine.”
Asked if deteriorating ties between the world's two largest economies on other fronts could result in the trade deal being thrown out the window, Kudlow said, "No, no."
Despite the tensions between the two sides, Kudlow said that the one area between the two countries that is “fine right now” is trade. “The one area we are engaging is trade," he stated.
U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steve Mnuchin and Chinese Vice Premier Liu He are to meet via teleconference to assess the progress on the deal, reportedly on Saturday, August 15.
Beijing is pushing for the recent measures targeting businesses including TikTok and WeChat to be on the agenda.
Along with agricultural purchases and the dollar-yuan exchange rate, which are among topics to be discussed, Chinese officials intend to bring up Trump's prospective bans on transactions with the two apps on national security grounds, Bloomberg reported.
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