US-China trade deal a 'historic failure' with purchases more than 30 per cent short of target, PIIE report says


Source: yahoo.com yahoo.com

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China "bought none" of the additional US$200 billion of exports promised under the phase-one trade deal with the United States, a new report looking at the performance of the two-year deal signed under the Trump administration said. The US and China signed their long-awaited deal in January 2020, and the terms outlined in the agreement took effect one month later, with China committed to buying an additional US$200 billion worth of goods and services over 2020-21, relative to 2017's levels. But according to a report released by the Peterson Institute for International Economics (PIIE) on Monday, China bought only 57...