The markets had a roller coaster ride as White House trade adviser Peter Navarro was quoted by Fox news that the US-China trade deal is “over”. But Navarro quickly clarified that “my comments have been taken wildly out of context”, and the trade deal is “not over”. President Donald Trump also tweeted “The China Trade Deal is fully intact. Hopefully they will continue to live up to the terms of the Agreement!”
Navarro did indicated that the “turning point” came when Chinese official went to the US on January 15 to sign the trade deal, “a full two months after they knew the virus was out and about”. “It was a time when they had already sent hundreds of thousands of people to this country to spread that virus, and it was just minutes after wheels up when that plane took off that we began to hear about this pandemic.”
He later explained in a statement, “they had nothing at all to do with the Phase I trade deal, which continues in place. I was simply speaking to the lack of trust we now have of the Chinese Communist Party after they lied about the origins of the China virus and foisted a pandemic upon the world.”
