White House adviser says coronavirus will delay China trade deal purchases
White House economic adviser Larry Kudlow said Tuesday that the rapid spread of a novel coronavirus would delay a key term of the phase-one trade deal with China.
Kudlow estimated that the overall economic impact of the coronavirus in the US would be"minimal," adding that it could actually"spur some business investment in equipment."White House economic adviser Larry Kudlow said Tuesday that the rapid spread of a novel coronavirus would delay an increase in US exports to China, a key term of the interim trade agreement the two sides signed last month.
Signs of the epidemic emerged just after the largest economies signed a trade agreement to defuse a nearly two-year-long dispute on January 15, casting further doubt on whether China would be able to fulfill ambitious pledges championed by the Trump administration. China is seeking to request flexibility from the US on those pledges as it confronts the coronavirus outbreak,. The White House, the Office of the US Trade Representative and the Treasury Department did not respond to emails requesting comment.
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