Mubasher: Top US and Chinese officials have reaffirmed their commitments to taking the steps necessary for the success of the Phase 1 trade deal between the two countries, which entered into force in February 2020.

This commitment was made during a telephone call between US Trade Representative Robert Lighthizer, US Treasury Secretary Steven Mnuchin, and Chinese Vice Premier Liu He, according to a statement by the US Trade Representative’s office (USTR).

The US and Chinese officials have held the first formal dialogue since early May after being postponed amid the tensions in US-China ties.

During the phone call, the officials highlighted the measures taken by China to activate the structural changes mentioned in the deal to protect intellectual property rights, remove impediments for US firms in the financial services and agriculture sectors, and eliminate forced technology transfers. 

In addition, the significant rise of China's purchases of US products was discussed alongside the actions needed to fulfil the agreement.

The talks were originally scheduled for 15 August to discuss the implementation of the deal, which has seen China lagging on its target to increase its purchases of American goods.

Under the agreement, China should buy more US goods and services of around $200 billion in 2020 and 2021, more than 2017 levels; however, the coronavirus (COVID-19) outbreak has hit the Asian country and made it far behind its obligations.