The “phase one” trade agreement that calls for China to triple its purchases of U.S. farm exports “will take longer” because of the Wuhan coronavirus, said White House economic advisor Larry Kudlow on Tuesday. The coronavirus epidemic has disrupted trade and travel.
“It is true the ‘phase one’ trade deal, the export boom from that trade deal, will take longer because of the Chinese virus,” said Kudlow on a Fox Business News program. Larger agriculture exports were part of the “phase one” agreement for China to boost its purchases of U.S. goods and service by $200 billion over year years. No major ag sales to China have been reported since the agreement was signed on January 15.
Kudlow said the United States would see “minimal” impact from the coronavirus.