United States And China Trade Agreement

People`s Daily, the official newspaper of the Communist Party of China, said China would be able to withstand the trade war and that Trump`s policy was about American consumers. [269] Tariffs imposed by the United States and China on imports from each other have decimated bilateral trade in 2018 and 2019. The Trump administration negotiated the legal text of the Phase 1 agreement to force China to buy an additional $200 billion of U.S. goods and services in addition to 2017 (not 2019) if bilateral trade was more robust.2 The legal evaluation of the agreement therefore requires a comparison of 2020 with 2017. In November 2019, Jim Cramer said the trade war between the United States and China would continue for a long time if China did not buy a considerable amount of U.S. products to prove the validity of the free trade quota arguments in the Trump administration. [323] The trade agreement contains a multitude of victories for the U.S. industry, including the opening up of the biotechnology, beef and poultry markets. Banks, insurers, pharmaceutical companies and the energy sector are also the main beneficiaries. „If the government lets the Phase 1 agreement die, it will be difficult to justify the pain caused by the long trade war,“ she wrote in an essay this week. A speed she can read in global business news – weekdays in the morning, in your inbox. President Trump has launched a trade war to pressure Beijing to make significant changes to aspects of its economic system that facilitate China`s unfair trade practices, including forced technology transfer, limited market access, intellectual property theft and subsidies to state-owned enterprises.

Trump argued that unilateral tariffs would reduce the U.S. trade deficit with China and encourage companies to repatriate manufacturing jobs to the United States. Between July 2018 and August 2019, the United States announced that it would impose tariffs on more than $550 billion in Chinese goods, and China returned the favor with tariffs in excess of $185 billion. The guide discusses U.S.-China relations in general; the general trade situation between the two countries and specific issues such as trade disputes and trade remedies; the U.S. trade deficit with China; U.S. trade and Chinese state-owned enterprises, the evaluation and competitiveness of the market economy and non-market markets; China`s monetary policy; and investment between the United States and China. Statistical resources, selected periodicals and databases are also made available.