The European Union will oversee the implementation and challenge of the US-China trade agreement at the WTO if it hurts business.

"The 28 member states of the European Union (EU) will oversee the implementation of the US-China trade agreement phase one. If the targets cause trade distortion, they will not be compatible with the Group's standards. World Trade Organization (WTO). When this happens, we will go to the WTO to address it, "EU Ambassador to China Nicolas Chapuis said at a press conference today in Beijing.

US President Donald Trump and Chinese Vice Premier Liu He signed a one-day trade deal on January 15 to "correct past mistakes." China will increase purchases of American goods in two years, while ensuring intellectual property issues for US technology. The Chinese newspaper praised the deal but warned of possible instability in the future.

Chinese Foreign Ministry spokeswoman Canh Shuang said the trade deal with the US "complies with WTO market rules and principles." Ambassador Chapuis said China's Foreign Ministry "provided guarantees that the US-China trade agreement would not affect European businesses".

China agreed to buy an additional US $ 200 billion of US goods, including US $ 32 billion in agricultural and marine products, nearly US $ 78 billion in manufactured goods such as aircraft, machinery and steel, and US $ 52 billion in energy products. The US said it would halve the 15% tax rate on $ 120 billion of Chinese consumer goods, including apparel.

The US-China trade war has erupted since 2018 and is constantly escalating with "tit-for-tat" taxes, which heavily affected the financial market and global economy.