Economists analyzed data on exports of goods from USA and import to China, came to the conclusion that in the first six months of the action “the first phase” of trade between the countries, Beijing has actively violated the Washington word, writes CNBC.
In the period from January to June, China bought much less American goods than agreed in the January agreement, signed by the President of the United States Donald trump and Chinese President XI Jinping. According to data from the US, six months had purchased goods of 33.1 billion for the whole of the provisions of the 2020 142,7 billion dollars. The Chinese version speaks of 40.2 billion of total 172,7 billion.
the amount of the aggregate annual obligations of China in both versions differs by 30 billion dollars due to different assessments of U.S. exports to China in 2017, which is adopted for the base. The reason for this discrepancy is not specified. In both cases, already made purchases amount to less than a quarter of the plan.
the Goals are not achieved by any of the three industries mentioned in the January agreement: industrial goods, agriculture and energy. Experts doubted the attainability of goals immediately after the signing of the document. Since then, the Outlook has deteriorated against the background of the coronavirus pandemic, where the demand for goods and services around the world dropped sharply.
the main economic adviser to trump Larry Kudlow calls the data on Chinese purchases of “good numbers”. He also denies the possibility of eliminating the “first phase” of the transaction due to the rapidly deteriorating bilateral relations: Washington accuses Beijing in the spread of the virus, as well as in the surveillance of American users through smartphones and mobile apps, and in infringement of the autonomy of Hong Kong.
“the First phase” trade deal was signed by trump and XI Jinping in January. It involves the growth of Chinese imports of American goods on the most important categories in 2020 and 2021 by 63.9 billion compared to the level of 2017 to total $ 200 billion. It was assumed that during the execution prescribed in the document conditions for the “first phase” followed by a second, which will mark the final completion of continuing 2018 trade war.