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China’s 2020 trade deal under scrutiny: Trump administration launches compliance probe; Beijing agreed to buy more US products, services

The United States on Friday launched an investigation into China’s adherence to the ‘Phase One trade’ deal signed in 2020.Under the deal, China had pledged to increase purchases of US products and services by hundreds of billions of dollars over 2020 and 2021. However, the targets were not met, largely due to the Covid-19 pandemic.The…

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TikTok’s return: Video app will switch to US-controlled ownership; ‘terms have been agreed,’ says Bessant

Americans will be able to continue using TikTok, as a framework deal has been reached for the ownership of the social video platform, US treasury secretary Scott Bessent announced on Monday.The remarks came after weekend trade talks between the United States and China in Spain.Speaking at a press conference in Madrid, Bessent said that Trump…

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