COVID-19 To Further Dampen U.S.-China Trade

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960x0The U.S. and China seemed to be starting the year out strong after on Jan. 15, President Trump and China’s chief trade negotiator, vice-premier Liu He, signed the “phase one” of a trade deal meant to halt the countries’ almost two-year-old trade war.

Just days later, it became apparent that a new coronavirus outbreak that had started in the central industrial hub of Wuhan was spreading fast across China. Businesses, which were already preparing to close down during the weeklong Lunar New Year holiday at the end of January, stayed shuttered for weeks afterwards, putting a strain on consumption and making a serious dent in China’s manufacturing productivity and exports.

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