fredag 22. januar 2021

China falling short of US trade deal targets

China is falling short of its commitment to buy an extra $200bn (£146bn) worth of US goods over 2020 and 2021. China agreed to buy the goods in a trade deal with the US agreed last January in exchange for reduced tariffs on $120bn worth of goods. The agreement was seen as phase one of a deal aimed at resolving the trade war between the world's biggest economies.

Since the Covid-19 pandemic the US trade deficit with China has surged. Medical goods and equipment used for the work from home boom helped drive US imports of Chinese goods in 2020. During this time, China exported nearly three times as much as it imported from the US in December, according to Chinese customs figures.