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
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

Topic |   US-China trade war
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
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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