Posted on 02/03/2022 12:28:38 PM PST by elpadre
WASHINGTON — China has failed to meet its commitments under a two-year Phase 1 trade deal that expired at the end of 2021, and discussions are continuing with Beijing on the matter, Deputy U.S. Trade Representative Sarah Bianchi said on Tuesday.
"You know, it is really clear that the Chinese haven't met their commitment in Phase 1. That's something we're trying to address," Bianchi told a virtual forum hosted by the Washington International Trade Association.
In the deal signed by former President Donald Trump in January 2020, China pledged to increase purchases of U.S. farm and manufactured goods, energy and services by $200 billion above 2017 levels during 2020 and 2021.
Through November, China had met only about 60% of that goal, according to trade data compiled by Peterson Institute for International Economics senior fellow Chad Bown.
The deal prevented the escalation of a nearly three-year trade war between the world's two largest economies but left in place tariffs on hundreds of billions of dollars of imports on both sides of the Pacific.
Agriculture Secretary Tom Vilsack in late January told lawmakers that China's purchases of U.S. farm goods fell short of the Phase 1 goal by about $13 billion.
The U.S. Census bureau is expected to release final 2021 trade data for goods and services on February 8, which will provide specifics on the shortfall.
Chinese customs data showed the country's 2021 trade surplus with the United States surged 25% to $396.6 billion after declining for two straight years, with exports to the United States up 27% and imports of American goods rising 33%.
(Excerpt) Read more at voanews.com ...
But their checks to Hunter, Frank and James have cleared, so there is no problem.
ChiComs Cheat-
Shocked!
just Shocked I tell you!
and more:
“...”To be super-candid, the conversations are not easy. They’re very difficult. But you know, from my perspective, what’s important is that we’re having conversations and they will be unflinchingly honest,” Bianchi said.
She said USTR was emphasizing that China’s state aid to companies and non-market economic policies and practices are a “serious threat to American economic interests.”
What a despicable lot. Without shame or honor.
I don’t know of any Republican who can handle the Chinese problem other than Donald Trump. Jim DeSantis?? maybe, but I doubt it. Donald Trump? absolutely!!
Of which the resident will do nothing about. In fact he’s buying 100s of millions of PRC FungYouFlu test kits (probably poisoned or drenched in COVID) to distribute for free?!?!?!
Nothing new under the sun. China cheats and always has.
And Brandon.....did nothing!!
and you’re gonna do exactly what, about it???
there is only one Republican who can handle the Chinese. His name is Donald Trump and he does is with a touch of class! Some say Jim DeSantis could but I doubt it. Donald Trump - absolutely!!!
I wonder how much you know about the governor of Florida, Ron DeSantis. Who is Jim DeSantis?
“...how much you know ...”
obviously not enough - mia culpa
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