The first phase of a U.S.-China trade deal signed a year ago has been praised for improving the business environment for some U.S. companies, although China is lagging in its commitment to significantly increase its purchases of U.S. goods, according to the Wall Street Journal website Monday. This commitment is a cornerstone of the agreement.
Under the deal brokered by the Trump administration, China agreed to buy about $159 billion in U.S. goods by the end of 2020. An analysis conducted by Chad Bown, a senior researcher at the Peterson Institute for International Economics, shows that China actually purchased about $82 billion in goods from the U.S. as of November 2020, which is about 52 percent of that goal.
The report quoted Craig Allen, president of the U.S.-China Business Council (U.S.-China Business Council), as saying, “From a structural perspective, the Chinese side has fulfilled all its commitments. But from a quantitative perspective, they have not done enough.”
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