China has purchased less than three-fifths of the US goods projected under the “phase one” trade deal that paused a tariff dispute between the two countries a year ago, reported the Financial Times.
Under the terms of the deal, China agreed to buy $200 billion more of US goods and services than it did in 2017, before the start of the trade dispute, over a two-year period to the end of 2021, said the FT.
According to analysis from the Peterson Institute for International Economics, Beijing has purchased just 58% of the US exports expected under its projections, based on data to the end of last month. China’s imports of US products covered by the trade deal’s purchase commitments amounted to $100 billion by the end of December, compared with a prorated target of $173.1 billion, the institute said.
