Essential consequences for not honouring agreement

Published:

On: May 2020

The Treasury Secretary of the United States of America Steven Mnuchin has recently warned China of very crucial imports for not admiring the trade deal that had been signed between the two nations at the start of 2020. He said that we expect that they admire this deal. And if they don’t, then there would be extremely important outcomes in the relationship as well as the worldwide economy as to how people would perform business with them.

The US Treasury Secretary’s warning to China happened a day after American president Donald Trump stated that he will cancel the trade deal with China, if they don’t respect the commitment of acquiring an extra $200 billion that worth of agricultural items from the United States. Under the trade deal between the USA and China signed in the month of January, Beijing decided to acquire nearly dollar 200 bn additional in American products and other services in two-year period from 2020 to 2021.

Mr. Mnuchin said that president is reviewing all problems with China thoughtful. He has been very clear about this decision, and working with the major agencies to understand what they realized and what they did not. The main objective of the US president is the health of the public and the economy of the country, but he is studying the China problem very closely. Mnuchin further added that Donald Trump and his administration have performed massive job in minimizing the spread of the COVID-19 by taking extreme action to block travel with China and offering key guidelines to restrict the spread of the coronavirus and reverse its destructive economic affect.