The nominee for US Treasury secretary said last week that Trump would use the 2020 phase one agreement as a starting point with Beijing. Five days into the new administration, the White House announced on Friday that it was conducting a "compliance review" of what it termed the "Economic and Trade Agreement" between China and the United States.

President Donald Trump is considering changing a key U.S. trade benefit to other nations, the "de minimis" exemption on import tariffs, as he accuses China of unfair trade practices and blames it for a crisis over the deadly drug fentanyl.

Donald Trump is back in the White House, promising to use the United States's vast economic weight to hit back at China for its alleged unfair trade practices and role in the deadly American fentanyl crisis.