US treasury speaking on the Phase 1 US China trade deal after coronavirus

The US treasury is saying:

  • does not expect China to alter its purchase commitments under phase 1 of the US/China trade deal due to the coronavirus
  • The Global Times is also reporting that China's likely to import 10 million tons of liquefied natural gas from the US which is more than 4 times 2018 levels. You can read the full article here

Although China says they will "likely" do things, the reality may be different.

Let's face it, if the situation gets worse, the demand for things like natural gas will decline, leading to a glut, which will lower the price and make for problems for local producers. It is likely too early to project the supply and demand implications (the story is still developing), but "likely" is not "for certain".