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China said to fall short on promises to US as trade deal ends

Author:   Posttime:2021-12-31

WHILE the trade deal between China and the US was signed in January 2020, many hoped it would lead to a reduction in tension between the nations, with some speculating China has fallen short on their promise, reports Bloomberg News.

Though Chinese imports from the US have hit a new record, at the end of last month Beijing was well behind on promises, buying 59 per cent of the extra US$200 billion in manufactured, agricultural, and energy goods it said it would by the end of 2021.
"Since the agreement came into effect, China has striven to overcome multiple negative effects brought about by epidemic shocks, the global economic recession, and the blockage of the supply chain, and pushed for the two sides to jointly implement the deal," said Ministry of Commerce spokesman Gao Feng.
"We hope the US can create a good atmosphere and conditions for the two sides to expand trade cooperation." said Mr Gao.
Said Former US ambassador to China Gary Locke: "Unless there's a signal, a clear change of behavior - commitments by the People's Republic of China on these tough economics and trade policies - I think it would be very hard for the Biden administration to reduce or eliminate those tariffs."
Both sides declared they are continuing to discuss the trade deal, with US trade representative Katherine Tai stating that the administration would talk directly to China to enforce what was agreed.
China's firms imported US$13.6 billion worth of manufactured, agricultural, and energy goods from the US in November.
 

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