The United States and China have delayed a review of their Phase 1 trade deal initially slated for Saturday, sources familiar with the plans told Reuters, citing scheduling conflicts and the need to allow time for more Chinese purchases of U.S. exports, Reuters reports. One source familiar with the talks said the delay was related to a conference of senior Communist Party leaders at the seaside town of Beidaihe on China’s northeast coast. The postponement did not reflect any substantive problem with the trade deal, the source said, adding: “The new date has not been finalized yet.”U.S. President Donald Trump on Friday repeated his view that the trade deal was “doing very well,” but did not comment on the delayed meeting. Delaying the meeting, even briefly, could allow China to complete more purchases, which would help Lighthizer persuade Trump to stick to the deal. “But he does own it, so they’re going to have to put the best face on it,” she said of the Phase 1 deal.

Source: The Standard August 16, 2020 13:18 UTC