Politics China bought none of the $200 billion it promised from the U.S. under ‘Phase 1’ trade deal

[SlyPokerDog]

Even on the day two years ago that the trade deal was inked, there was skepticism that China would live up to its pledge to spend $200 billion more on U.S. goods and services.

But a new study finds China didn’t even spend an additional dime on U.S. products.

Chad Bown of the Peterson Institute for International Economics examined the so-called Phase 1 agreement inked during the administration of former President Donald Trump.

China agreed to buy at least $227.9 billion of U.S. exports in 2020 and $274.5 billion in 2021, for a total of $502.4 billion over the pact’s two years, he noted. In reality: U.S. exports of covered goods and services to China over the two years totaled $288.8 billion.

https://www.marketwatch.com/story/c...hase-one-trade-deal-study-reveals-11644505449

 

[PtldPlatypus]

Even on the day two years ago that the trade deal was inked, there was skepticism that China would live up to its pledge to spend $200 billion more on U.S. goods and services.

But a new study finds China didn’t even spend an additional dime on U.S. products.

Chad Bown of the Peterson Institute for International Economics examined the so-called Phase 1 agreement inked during the administration of former President Donald Trump.

China agreed to buy at least $227.9 billion of U.S. exports in 2020 and $274.5 billion in 2021, for a total of $502.4 billion over the pact’s two years, he noted. In reality: U.S. exports of covered goods and services to China over the two years totaled $288.8 billion.

https://www.marketwatch.com/story/c...hase-one-trade-deal-study-reveals-11644505449

I'm sure covid had absolutely no impact on that whatsoever.

 

[Lanny]

Even on the day two years ago that the trade deal was inked, there was skepticism that China would live up to its pledge to spend $200 billion more on U.S. goods and services.

But a new study finds China didn’t even spend an additional dime on U.S. products.

Chad Bown of the Peterson Institute for International Economics examined the so-called Phase 1 agreement inked during the administration of former President Donald Trump.

China agreed to buy at least $227.9 billion of U.S. exports in 2020 and $274.5 billion in 2021, for a total of $502.4 billion over the pact’s two years, he noted. In reality: U.S. exports of covered goods and services to China over the two years totaled $288.8 billion.

https://www.marketwatch.com/story/c...hase-one-trade-deal-study-reveals-11644505449

Wasn't that one of Trump's deals that he described as being a deal that no one could make like him? Gotta give him credit, I guess he was right.

 

[PtldPlatypus]

Wasn't that one of Trump's deals that he described as being a deal that no one could make like him? Gotta give him credit, I guess he was right.

Yeah, what a loser Trump was, not foreseeing a global pandemic.

 

[Lanny]

Yeah, what a loser Trump was, not foreseeing a global pandemic.

Especially when that pandemic was staring him right in the face. He kept changing his prediction starting with somewhere around 9 and kept going up and up. Now we're over 900,000, soon to be over one Million. Oh yeah, what a genius.

 

[PtldPlatypus]

Especially when that pandemic was staring him right in the face. He kept changing his prediction starting with somewhere around 9 and kept going up and up. Now we're over 900,000, soon to be over one Million. Oh yeah, what a genius.

The pandemic was staring him right in the face in October of 2019 when this agreement was announced? I must have missed that...

 

[Lanny]

The pandemic was staring him right in the face in October of 2019 when this agreement was announced? I must have missed that...

It actually hit in late 2019/early 2020. Yet nothing happened on Trump's deal from October of 2019 until that time. So before Covid hit, nothing happened to help us with that brilliant deal. Now the pandemic is here and raging above 900,000 dead, soon to be one Million. Thanks for both the Covid rage and the zero China deal, Trump.

 

[SlyPokerDog]

I'm sure covid had absolutely no impact on that whatsoever.

I'm sure covid did have an impact.

But zero?!?

And for the record this wasn't posted to bash Trump, this is more about China.

 

[Phatguysrule]

Yeah, what a loser Trump was, not foreseeing a global pandemic.

"Not foreseeing" is an interesting we to say "ignored and denied as long as possible".