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. Photo: EPA-EFE
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. Photo: EPA-EFE

US-China trade deal a ‘historic failure’ with purchases more than 40 per cent short of target, PIIE report says

  • China bought only 57 per cent of the US exports it had committed to purchase under the phase-one trade deal with the United States, according to a new report
  • According to the Peterson Institute for International Economics, agriculture purchases under the deal reached 83 per cent of the total commitment

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. Photo: EPA-EFE
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. Photo: EPA-EFE
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