China fell far short of promises it made to purchase American goods.

[obj 705A]

China fell far short of promises it made to purchase American goods.​

New data show that China effectively bought none of the additional $200 billion in goods it promised to as part of a 2020 trade deal.

China fell far short of the commitments it made in a 2020 trade deal with the United States, failing to purchase the promised volume of American airplanes, soybeans, energy, services and other products before the end of last year, data released Tuesday morning showed.

In a trade agreement signed with former President Donald J. Trump in January 2020, Chinese leaders committed to buying an additional $200 billion worth of American goods and services over 2017 levels by the end of 2021, in addition to other trade commitments. Those targets were viewed as ambitious at the time and would have amounted to a record level of purchases by China.

In order to reach those targets, China would have needed to purchase 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 two years, said Chad Bown, a senior fellow at the Peterson Institute for International Economics.

But China did not come close, Mr. Bown said in an analysis of the trade data published Tuesday, buying only $288.8 billion, or 57 percent, of the American exports it promised.

That volume was actually below the 2017 levels that had served as a baseline for the agreement, Mr. Bown said. In other words, China bought none of the additional $200 billion of exports that it pledged to purchase, he said.

China fell far short of promises it made to purchase American goods. (Published 2022)

New data show that China effectively bought none of the additional $200 billion in goods it promised to as part of a 2020 trade deal.

www.nytimes.com

 

[OIO]

China fell far short of promises it made to purchase American goods.​

New data show that China effectively bought none of the additional $200 billion in goods it promised to as part of a 2020 trade deal.

China fell far short of the commitments it made in a 2020 trade deal with the United States, failing to purchase the promised volume of American airplanes, soybeans, energy, services and other products before the end of last year, data released Tuesday morning showed.

In a trade agreement signed with former President Donald J. Trump in January 2020, Chinese leaders committed to buying an additional $200 billion worth of American goods and services over 2017 levels by the end of 2021, in addition to other trade commitments. Those targets were viewed as ambitious at the time and would have amounted to a record level of purchases by China.

In order to reach those targets, China would have needed to purchase 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 two years, said Chad Bown, a senior fellow at the Peterson Institute for International Economics.

But China did not come close, Mr. Bown said in an analysis of the trade data published Tuesday, buying only $288.8 billion, or 57 percent, of the American exports it promised.

That volume was actually below the 2017 levels that had served as a baseline for the agreement, Mr. Bown said. In other words, China bought none of the additional $200 billion of exports that it pledged to purchase, he said.

China fell far short of promises it made to purchase American goods. (Published 2022)

New data show that China effectively bought none of the additional $200 billion in goods it promised to as part of a 2020 trade deal.

www.nytimes.com

China's promises have preconditions, and apparently the Americans have not met those preconditions.

 

[Trailer23]

So basically what NY Times is trying to say is that the US got played by China.

Meanwhile, China continues to manufacture all the US Flags with the Made in China tag on 'em.

 

[northeast]

The trade war is illegal in WTO standard from the start,if they insist their greedy demand,then let's start another trade war,and let their inflation fly high.

 

[Beidou2020]

China's promises have preconditions, and apparently the Americans have not met those preconditions.

This

 

[Beast]

Trade war are easy to won, by Chinese.

 

[Han Patriot]

We didn't promise anything, we said we will try based on economic demand. So what are the cheerleaders gonna do now? Moan?

 

[lcloo]

China wanted to buy electronic chips but US banned Huawei and other Chinese companies buying US products. US also banned their companies from dealing with a few dozen Chinese companies.

China could have continue to buy Boeing jets and engines for Chinese domestic passenger jets but US's hostile actions against COMAC is putting off Chinese purchases that could have exceeded US100 billion.

If US does not want to sell products that China wants, and continue to add more Chinese companies on the banned list, then don't blame China for not buying more from US. These companies that were banned by US coulds have placed purhase orders to US companies with amount exceeding US$200 billion.

 

[Han-Tang]

the US is like a spoiled child more and more， but China is not his father and won't give everything he asked with no return.

 

[xuxu1457]

The inflation in the United States has reached 7.5%. In fact, it's just a talk, it's just a blame game. The United States doesn't really want China to continue to buy. Does US want China to keep buying beef to make the inflation in the United States fly to 10% +?