Trump threatens to terminate trade deal with China
US President Donald Trump has threatened to terminate the trade deal with China if Beijing did not honour its provisions in the wake of the coronavirus pandemic that originated in the country.
While China has reported 82,788 novel coronavirus cases, including 4,632 fatalities, the US-registered over 824,600 cases and more than 45,290 deaths -- the highest in the world.
China and the US in January signed Phase-1 of the trade deal as the world's two top economic powers move forward to end their bitter tit-for-tat two-year tariff war that had rattled markets and weighed on the global economy.
The deal, which calls on China to buy USD 200 billion worth of US products, is set to move ahead as planned. However, the US-China Economic and Security Review Commission in a report said China could invoke a clause in the agreement that allows for fresh trade consultations between the two countries "in the event of a natural disaster or other unforeseeable events".