The Biden administration will put the trade deal struck with China by Donald Trump “under review” as the broader US relationship with Beijing is assessed, the White House said on Friday, reported the Financial Times.
The “phase 1” trade deal signed in early 2020 paused a rapidly escalating trade war between Washington and Beijing that had rattled global markets and led to tariffs of billions of dollars on traded goods.
Under the terms of the deal, which is widely considered to be limited in scope, China promised to significantly boost its purchasing of US products such as soybeans and energy products, said the FT.
When asked whether Biden considered the phase 1 trade deal to still be in effect Jen Psaki, White House press secretary, said on Friday that “everything the past administration has put in place is under review”.
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