China Says Trade Deal Good for both China and the U.S.

China calls the Phase One agreement a “win” for both sides, following comments made during the State of the Union address this week by President Donald Trump.

“Sound and steady development of bilateral relations serves the fundamental interests of the two countries and meets the aspiration of the international community,” said a spokesperson for China’s Foreign Ministry in response to President Trump’s State of the Union address Tuesday night. Trump called the trade deal with China a win for the United States, worth billions in new U.S. ag exports.

Trump signed the Phase One agreement in January, but the benefits of the deal may now be delayed by the coronavirus outbreak, thought to be limiting demand and could cause slowdowns at Chinese ports. China offered a different tune on Wednesday, saying, “China and the U.S. are in close communication on the situation through diplomatic and health channels.”

Earlier in the week, China claimed the U.S. “hasn’t provided any substantive assistance.” China is also seeking flexibility on trade deal rules due to the coronavirus outbreak.