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China and the United States, compliance with the Phase One agreement is still elusive

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According to the Peterson Institute file, China is far from complying with the Phase 1 agreements.

L ‘First stage commercial agreement between United States of America e China He is entering his second year of life, but according to a report from the Peterson Institute for International Economics, Chinese purchases are well below the agreed quantity.

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Remember that the two countries signed a trade agreement in January 2020, a few weeks before Covid-19 began spreading rapidly in China, and then turned into a global pandemic. The deal stated that compared to imports from the United States in 2017, China had to purchase at least an additional $ 200 billion in US goods and services over the next two years.

Well, to abide by the agreement, China was expected to buy $ 64.5 billion in US assets during the first four months of this year. However, Peterson’s estimated data suggests that China’s purchases of US goods are only 73 percent of the target.

For each category, cultivation was closest to reaching the goal, with 79% of the target according to Peterson, and 87% based on Chinese data.

We also remember that the two-year agreement will expire in December and that talks between China and the United States on trade at least for the time being have stalled, with representatives of the two countries who should have had a review every six months in August. (But the meeting was postponed.)

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Since US President Joe Biden took office in January, his administration has maintained Trump’s hard-line stance toward China with few indications of a change in the tariff or trade deal for the foreseeable future.

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Earl Warner

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