US-China Trade Deal Called 'Largest Ever Transaction'... Trump Says "I've Changed My Mind"

Reversal in US-China Trade Deal Assessment
US COVID-19 Case Surge Seen as a 'Badge of Honor'
Congress Pushes Bill to Restrict Chinese Companies' US Listings

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] U.S. President Donald Trump expressed that he "feels differently than three months ago" regarding the Phase One U.S.-China trade agreement reached last January. This is interpreted as a warning that the trade deal could be altered, highlighting China's responsibility for the novel coronavirus disease (COVID-19). Meanwhile, a bill to block Chinese companies from listing on the U.S. stock market was under consideration in the U.S. Congress.

On the 19th (local time), during a cabinet meeting at the White House, when asked if a retaliatory decision against China was imminent, President Trump drew a line by saying, "I don't talk about retaliation," and made the above remarks.

President Trump continued, "The meaning (of the trade agreement) seems small to me. At that time, I thought it was the best deal in history and was very excited. But right after that, the virus came. I want to say how could I have let this happen," adding, "We will see what happens." He also mentioned "very disappointing things happened in China," using the word 'disappointing.'

At the time of the U.S.-China trade agreement in January, President Trump had praised it as a "groundbreaking deal" during the signing ceremony with Chinese Vice Premier Liu He at the White House. However, this evaluation changed 180 degrees in just three months.

On the same day, a bill to block Chinese companies from listing on the U.S. stock market was reviewed in Congress. According to MarketWatch, Republican Senator John Kennedy is preparing legislation requiring Chinese companies to be audited according to U.S. accounting standards. This reflects concerns that these companies are not under U.S. government control when listed on the U.S. stock market. It is reported that a significant number of lawmakers from both parties are expected to join.

President Trump also addressed the fact that the U.S. has the highest number of COVID-19 infections worldwide during the meeting. He said, "It is due to a lot of testing," and called it "a badge of honor." Referring to the U.S. having conducted 14 million tests, Trump said, "We may find more (infection) cases," adding, "I don't see that as a bad thing; in some ways, it means our testing is much better."

However, Bloomberg cited the U.S. Centers for Disease Control and Prevention (CDC), reporting that the number of tests conducted in the U.S. is 11.3 million, pointing out a discrepancy with President Trump's statement. The number of COVID-19 patients and deaths in the U.S. exceeded 1.52 million and 91,000 respectively on that day.

Regarding South Korea, he said, "They are doing very well," but compared to the number of tests in the U.S., "they (Korea) have a very small number."

This content was produced with the assistance of AI translation services.