China Says It Still Plans to Uphold Phase One Deal Despite US Sanctions
China said it still plans to fulfill its commitments under the phase one trade deal with the U.S. despite rising tensions over Hong Kong and a host of new U.S. sanctions and export restrictions (see 2007150019, 2007140068, 2007010040 and 2006290063). The trade agreement will “benefit both countries and the world,” a Chinese Foreign Ministry spokesperson said July 16, according to an unofficial translation of a press conference transcript. “We will implement the signed agreements.”
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But the spokesperson also pointed to recent U.S. sanctions and its criticism of Beijing’s interference in Hong Kong, saying the U.S. has been “bullying” China. “What the U.S. does is not conducive to mutual trust and cooperation between China and the U.S.,” the spokesperson said. China has said it will retaliate for U.S. sanctions and other restrictions (see 2007100002, 2006290014 and 2005180032).