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Oct 12, 2021

Trade Agreements China And Us

This research guide provides selected sources of information for those studying U.S. trade with China. The target group ranges from trade policy practitioners, scientists, analysts and businessmen to students and the general public who are interested in US trade with China, particularly US trade policy with China. Chinese politicians and economists are divided over the trade war. [257] [258] [259] [260] An August 2019 NPR article indicated that some Chinese leaders were advocating for a quick fix to the trade war to save the Chinese economy, others said the country must retaliate against the United States and avoid a deal at all costs. [257] Minxin Pei, a scholar of Chinese politics at Claremont McKenna College in California, argued that M. Xi for China`s renaissance as a world power had proved hollow by the continuation of the trade conflict. [259] President Trump`s long-awaited trade deal with China involves some significant changes in economic relations between the world`s largest economies. The agreement marks an important turning point in U.S. trade policy and the types of free trade agreements that the U.S. has generally supported.

Instead of reducing tariffs to allow the flow of goods and services to meet market demand, this agreement leaves a record level of tariffs and forces China to buy some products worth $US 200 billion in two years. A December 2018 article by two Chinese academics said that in the worst-case scenario of the trade war, China would suffer a 1.1 percent drop in employment and a 1 percent loss in GDP, which is not negligible for its two academics, but is manageable for China. [261] Another paper published by Chinese academics in February 2018 also concluded that while the U.S. would suffer heavy welfare losses as a result of the trade war, China could easily lose or gain depending on the impact of the trade war on the U.S.-China trade balance. [262] In an April 2018 article in Forbes, Harry G. Broadman, a former U.S. negotiator said that while he agrees with the Trump administration`s basic position that the Chinese do not respect fair, transparent and market-based rules for global trade, he disagrees with ways to unilaterally enforce tariffs and said the government should instead take a coalition-based approach. [317] At the same time, China imported more pork to address local shortages caused by the outbreak, leading U.S.

pork exports to exceed their 2020 target (see again Chart 3). Through September, China`s pork imports from the rest of the world also increased by more than 400% compared to 2017. And in one of the few parts of the Phase 1 agreement, which contains political commitments (Chapter 3), China agreed to address technical barriers to trade that had slowed pork imports. Since the 1980s, Trump has favored tariffs to reduce the United States. .