Vizibelle

Visual Artist

Us China Trade Agreement Phase One

The U.S. agricultural belt, with its excessive influence in U.S. policy, has been China`s most whistleblower target for Trump`s tariffs. Agricultural exports grew relatively well before the trade war, but suffered.6 Unlike hard-hit U.S. producers, U.S. farmers received tens of billions of dollars in federal subsidies in 2018, 2019 and 2020. Agriculture accounts for only 22% of the products covered by the purchase obligations, less than a third of the size of the manufacturing industry. The Chinese delegation also welcomed the pact. In a letter to Trump, Chinese President Xi Jinping said the first phase agreement was “good for China, for the United States and for the world.” He said he also showed that the two countries were capable of “acting on the basis of equality and mutual respect.” The letter was read by Beijing`s chief negotiator, Vice Premier Liu He. From the beginning, an additional $200 billion in sales to China were a worrying goal. Nearly 30% of U.S. merchandise exports to China are not even covered by the Phase One agreement.

And for those who covered the agreement, a review of 15 product groups shows that their sales to China have been influenced by various factors, including plane crashes, epidemics of outbreaks, export controls, World Trade Organization (WTO) legal decisions, the lingering effects of trade war tariffs and the pandemic. WASHINGTON (AP) – The United States and China reached a trade agreement Wednesday that eases tensions between the world`s two largest economies, offers massive export opportunities for U.S. farms and factories, and promises to do more to protect U.S. trade secrets. JD .com officials were excited about the deal when it met because it offered a competitive advantage over Alibaba, said James Green, who was then the top trade officer at the U.S. Embassy in Beijing. The dependence of the Phase 1 agreement on China`s massive purchase commitments could be its biggest mistake. These commitments often generate press releases on large sales, but the agreement did not do enough for what was really needed: lower tariffs and other trade barriers to allow producers to compete in the Chinese market.