China U.s. Trade Agreement

Trump, who said the trade deal no longer matters as much to him because of China`s handling of the coronavirus pandemic, this week expressed support for the deal and said it should continue and purchases are expected to increase in 2021. Claire Reade, a former USTR official and senior fellow at the Center for Strategic and International Studies, said the agreement offers some incremental progress for U.S. companies seeking access to the lucrative Chinese market. „It`s a good thing to be able to come together and communicate with each other,” said an economist at China`s national think tank who advised Beijing on the trade deal, while warning that there was little optimism about further trade breakthroughs. Domestic coverage of the trade war is censored in China. While news agencies are allowed to cover the conflict, their reports are subject to restrictions; The South China Morning Post reported that Chinese media employees were ordered not to „overestimate” the trade war,[263] while a New York Times article reported that state news agencies had tried to promote the official line, with the authorities limiting the use of the term „trade war.” [260] Social media posts about the conflict are also subject to censorship. [264] [265] Green says that the United States „regrets” having two major multilateral agreements on the sidelines. He says this will bring two benefits to China: „On the one hand, there will be a narrative in the region that China is the new leader that has the most influence on trade and rules. And the second is that it will reduce barriers to trade with China at a time when the United States is doing nothing to reduce barriers to trade with the United States. „We also need to be sure that the text of the agreement is the same in the Chinese and English versions – history has shown that differences become easy loopholes to exploit,” said Ker Gibbs, president of the U.S. Chamber of Commerce in Shanghai.

Globally, foreign direct investment has slowed. [243] The trade war has damaged the European economy, particularly Germany, although trade relations between Germany and China, as well as between Germany and the United States.

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