MOSCOW (Pakistan Point News / Sputnik - 08th May, 2020) China and the United States have agreed that they have made progress on creating conditions for the implementation of the first stage of their bilateral trade deal, according to a statement published by the Office of the US Trade Representative.
Vice Premier Liu He led the talks from the Chinese side on Thursday, and Washington was represented by US Trade Representative Robert Lighthizer and Secretary of the Treasury Steven Mnuchin, according to the statement.
"The parties discussed the ongoing process of implementing the Phase One agreement between the two countries that went into effect February 14. Both sides agreed that good progress is being made on creating the governmental infrastructures necessary to make the agreement a success," the statement read.
The Chinese and US delegations also agreed to begin the implementation of the trade deal in spite of the ongoing coronavirus disease outbreak, according to the statement.
Meanwhile, Chinese state-run media reported that the sides had agreed to create the required favorable conditions for the implementation of the first stage of the trade deal between them.
On Thursday, China's General Administration of Customs reported that trade flow between the United States and China fell 15.2 percent year-on-year in the first quarter of 2020 due to the economic disruption caused by the COVID-19 pandemic and the lingering impacts of a trade war between Beijing and Washington.
