Former U.S. Ambassador to China Terry Branstad suggests a second phase to the trade deal with China is unlikely.

“Because the Chinese government loves to subsidize their state-owned enterprises, which are their champions.”

He calls that approach “market distorting” and says the Trump administration tried to address it.

“And frankly that’s what didn’t get done in the Phase One agreement, and I think will be difficult to do (and) the Biden administration hasn’t really shown any appetite for going after it.”

Branstad made these comments during the U.S.

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