China Fails to Meet Phase 1 Purchase Commitments, Report Says
China failed to meet its 2020 purchase commitments under the phase one U.S.-China trade deal, buying just 58% of the $172 billion worth of goods it had pledged to buy, Bloomberg reported Jan. 21. In total, China met 60% of…
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its target for manufactured goods, about 64% for agricultural goods and 39% for energy-related goods, the report said. Although the Trump administration frequently touted China’s purchase milestones under the deal and expressed optimism that China would meet its targets, trade experts were skeptical, particularly due to supply chain difficulties cause by the COVID-19 pandemic (see 2010230065, 2002120043 and 2003160031). The White House and the Chinese Embassy didn’t comment.