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ADMINISTRATION SAYS CHINA PHASE ONE TRADE DEAL IS STILL ON TRACK
May 22, 2020
POLITICO reports:
Top Trump administration officials on Thursday touted about China's commitments so far in implementing the phase one trade deal with the U.S., even as the coronavirus has strained relations between the countries, reports Pro Trade's Doug Palmer.
The deal requires China to make certain market-opening reforms, as well as increase purchases of U.S. farm goods, manufactured goods, energy and services by $200 billion above 2017 levels over the next two years.
U.S. Trade Representative Robert Lighthizer said China is working to expand access for U.S. producers. And Agriculture Secretary Sonny Perdue was also upbeat about recent steps China has taken to open its market to U.S. avocados, blueberries, barley, meat, dairy and forage products.
But officials did not release an accounting of how much China has bought since the beginning of the year, and U.S. trade data released earlier this month showed U.S. goods exports to China were actually running below 2017 levels, prompting President Donald Trump to say he could end the agreement.
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