Chinese state-run buyers have purchased more than 20 cargoes, or more than 1 million metric tons, of USA soybeans in the past two weeks, said sources, who asked not to be identified because the information is private. A suggestion to negotiate a new deal to tilt the balance more toward the Chinese side has also been floated, the hardline tabloid said.
Under the deal, China agreed to increase its purchases of USA goods from a 2017 baseline by $200 billion over two years, with around $77 billion in increased purchases in the first year and $123 billion in the second year.
The Phase 1 trade deal between China and the United States will benefit for both countries and the world, the Chinese foreign ministry said on Tuesday after being asked whether China is considering renegotiating the deal.
In a press briefing Tuesday, however, China's finance minister reaffirmed Beijing's commitment to the deal.
Navarro, once an academic and a known hawk on China, repeated the assertion later in a second interview on Fox News and insisted Washington must bring supply chains back to the US.
Under the deal, China agreed to increase its purchases of US goods from a 2017 baseline by $200 billion over two years, with about $77 billion in increased purchases in the first year and $123 billion in the second year.
USA continues media battle with Beijing, limits Chinese journalists' visas
Chinese foreign ministry spokesperson Zhao Lijian called this move an escalation of suppression against Chinese media. Reporters would only have to apply to extend the visa if they moved to a different company or type of reporting.
The newspaper, Global Times, quoted a trade adviser as saying: "It is, in fact, in China's interests to terminate the current Phase One deal".
Asked about the bill during Wednesday's briefing, Zhao told reporters the proposed legislation, which pushes for investigations based on the "presumption of guilt", was "highly immoral" and a way to "shirk responsibility for the USA fumbling response to China".
In the first three months of this year, China purchased $3.1 billion of agricultural products, far below the pace needed to meet the target for this year, said an analysis by the American Farm Bureau Federation.
The Trump administration also asserted that there was evidence the new coronavirus came from a Wuhan laboratory.
Last Friday, Vice Premier Liu He, who had led China's negotiations, spoke by phone with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin and confirmed that both sides agreed to implementing the first phase of the deal. He said the Chinese government has made considerable contributions to the global economy and has not used its privileges as a developing nation often, reported Liberty Times.