Reuters Quotes Clete Willems on Possible Renegotiation of US-China “Phase 1” Trade Deal
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Reuters has quoted Akin Gump public law and policy partner Clete Willems in the article “Trump ‘not interested’ in reopening U.S.-China trade deal after report of Beijing discontent.” The story follows a report that Chinese officials are being urged to revive the possibility of invalidating the trade pact with the United States and negotiate a new one.
President Trump, the article says, is opposed to renegotiating the “Phase 1” trade deal between the two countries and instead wants to see if Beijing lives up to the deal to increase its purchases of U.S. goods.
Willems said he thinks China has followed through on the majority of the structural provisions in the Phase 1 deal, including new rules to protect intellectual property. “I don’t think we’re at the point where we should give up on the deal. It has yielded positive results thus far,” he said.