Former US president Donald Trump and China’s Vice-Premier Liu signed the phase one trade deal in January 2020. Photo: EPA-EFE
Former US president Donald Trump and China’s Vice-Premier Liu signed the phase one trade deal in January 2020. Photo: EPA-EFE

US-China trade war: phase one trade deal largely a ‘failure’, as purchases fall well short of targets

  • China and the US signed their phase one trade deal in January 2020, with China committing to buy US$200 billion more goods and services over the next two years
  • According to a report by the Peterson Institute for International Economics, US exports of phase one goods in 2020 fell more than 40 per cent short of the target

Former US president Donald Trump and China’s Vice-Premier Liu signed the phase one trade deal in January 2020. Photo: EPA-EFE
Former US president Donald Trump and China’s Vice-Premier Liu signed the phase one trade deal in January 2020. Photo: EPA-EFE
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