Details of the basic approach to mapping the 2020 annual targets for trade data are available in Bown (2020). Other hypotheses relate to the establishment of estimates for 15 different product categories, as the agreement provides only aggregate targets for the four sectors of manufacturing, agriculture, energy and services. The aim is to allocate product-level targets on the basis of the share of this product in all U.S. exports to China in 2017 of products covered by purchase obligations. See also the table below. The United States reached a Phase 1 trade agreement with China on Friday to avoid the December 15 customs cycle. Chinese trade advisers say the slowdown in both economies due to de demonstration barriers has made it more difficult to meet purchase targets, but they do not expect the White House to leave. “At least we expect Beijing politicians to now question their commitment to a trade deal that has done little to protect Chinese companies from U.S. pressure.” Despite the escalation of the conflict, the Phase 1 trade agreement is not being dismantled, U.S. officials say. “They have said they intend to implement the plan and we are in touch with them,” White House economic adviser Larry Kudlow said Thursday. “We have big differences with China on other issues, but as far as the Phase 1 trade agreement is concerned, we are committed.” “At the moment, the agreement serves the interests of the Trump administration and Chinese leaders,” said former USTR Miriam Sapiro, now chief executive of communications company Sard Verbinnen, adding that the requirements set out in the agreement were “never realistic.” It was also agreed to strengthen its intellectual property rules by strengthening measures against counterfeiting and the theft of trade secrets. This is the last point of friction between Washington and Beijing; Others are China`s new national security law for Hong Kong, the communications company Huawei and the origin of coronavirus.

Claire Reade, a former USTR official and senior fellow at the Center for Strategic and International Studies, said the agreement offers some incremental progress for U.S. companies seeking access to the lucrative Chinese market. WASHINGTON/BEIJING (Reuters) – Major U.S. and Chinese trade agents are expected to re-engage on a phase 1 trade deal on Saturday, although China`s promised U.S. export purchases are well below schedule. As of September 2020, China had purchased only 53% of what was expected at this time of year (Chart 1, Panel a).3 Imports of all covered products were only $65.9 billion compared to a target of $124.9 billion.