China Hopes U.S. Can Enable More Trade Amid ‘Phase 1’ Deal Uncertainties




BEIJING, Jan 13 (Reuters) – China said on Thursday that it hopes the United States can create conditions to expand trade cooperation, after Chinese purchases of U.S. goods in the past two years fell short of the targets in a Trump-era trade deal.

China has been behind in its promises in a “Phase 1” trade pact to boost purchases of U.S. goods by $200 billion during 2020 and 2021 compared to 2017 levels, reaching only about 60% of the target through November 2021, according to data compiled by the Peterson Institute for International Economics.

“Since the agreement came into effect, China has worked hard to overcome multiple adverse factors caused by the impact of a pandemic, the global recession and supply chain disruptions, and pushed for the implementation of the deal from both sides,” Commerce Ministry spokesperson Shu Jueting told an online news conference.

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