China misses trade targets it promised to Trump
CNN
China fell more than $213 billion short of its commitment in 2020 to increase purchases of US goods and services, according to a report that gives the first complete picture of how much was purchased over a two-year period. The deal required China to meet its purchase commitments by the end of 2021.
The commitment was made in what's known as the Phase One deal, in which Beijing promised to purchase $200 billion more in American exports than it had in 2017, before a US-China trade war began. Trump and Chinese President Xi Jinping both stopped escalating tariffs after the deal was signed.
The deal required China to meet its purchase commitments by the end of 2021. While China was never on track to meet the target number, a new report from the Peterson Institute for International Economics gives the first complete picture of how much was purchased over the two-year period.
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