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The
Chamber said the pandemic had clearly slowed progress for both
governments, but there were reasons to be hopeful. It also
welcomed regular talks between the world's two largest economies
on implementation of purchases, intellectual property reforms
and other issues covered by the trade deal.
“Implementation is critical. COVID-19 has unquestionably slowed
progress for both governments, and it will be critical for the
pace of implementation of purchases to accelerate markedly," it
said in a statement after a virtual meeting of top U.S. and
Chinese business leaders on Wednesday.
The meeting, one of two convened each year by the Chamber and
the China Center for International Economic Exchanges, a
Beijing-based think tank, focused on the Phase 1 trade deal that
took effect in February, and supply chain challenges.
Tensions between the two countries have spiked in recent months,
sparking questions about the future of the trade deal, under
which China agreed to buy $200 billion more in U.S. goods and
services over two years.
China threatened retaliation after U.S. President Donald Trump
signed legislation on Wednesday calling for sanctions over the
repression of China's Uighurs, a Muslim minority.
The Chamber said China’s 1.4 billion consumers represented the
fastest growing market for U.S. companies, but U.S. firms also
faced myriad challenges doing business with China.
Despite the challenges and the recent tensions, it said a
functional relationship between the two countries was "in the
fundamental interests of Americans, and of peace and stability
in the world."
(Reporting by Andrea Shalal; Editing by Simon Cameron-Moore)
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