Chinese Questioning Phase One Trade Deal?

Chinese government advisors are reportedly telling officials there to renege on the recently-signed trade deal with the U.S. Global Times, a Chinese state-owned media company, cites sources close to the Chinese government who say they should void the deal and renegotiate with the U.S. so it’s more favorable for Beijing.

“In fact, it’s in China’s interests to terminate the current phase one deal,” said an unnamed trade adviser quoted in the Times. “The U.S. now cannot afford to restart the trade war with China if everything goes back to square one.”

President Donald Trump told reporters on Monday that he isn’t interested in reopening the trade talks. “Let’s see if they live up to the deal they’ve signed,” Trump said.

Trade tensions have been climbing between the two nations as the Trump administration accused Beijing of spreading misinformation about COVID-19 and failing to contain the virus.