President Trump’s long-awaited trade deal with China includes some
significant changes to the economic relationship between the world’s
largest economies.To get more
us china trade deal latest news, you can visit shine news official website.
The agreement signed Wednesday includes some victories for Mr.
Trump: China has committed to buy an additional $200 billion of American
goods and services by 2021 and crack down on business practices that
the Trump administration has criticized. But text of the accord does not
provide enough information to determine how it will work in practice,
and it is unclear whether China will interpret it differently than the
United States.
Mr. Trump said his deal is a boon for farmers, who have been among
the hardest hit by the trade war. The deal includes significant
commitments from China to buy agricultural products, as well as
airplanes, pharmaceuticals and oil and gas.
China’s commitment to purchase additional American exports is based
on 2017 levels, and includes $52.4 billion of energy exports, $32
billion of agricultural commodities, $77.7 billion of manufactured goods
and $37.9 billion of services.
Although American businesses and farmers will be pleased by those
commitments, China is only agreeing to make purchases for the next two
years and is vague about what happens after. The agreement says the
countries “project that the trajectory” of increased purchases would
continue through 2025. The shopping list also leaves several open
questions: What happens to China’s existing contracts with other
countries for products like soybeans? Will the purchases distort
commodities markets?
China’s vice premier, Liu He, who signed the deal with Mr. Trump at
the White House on Wednesday, said Chinese businesses will buy American
goods and services “based on the market demand in China,” suggesting
Beijing may not view the targets as so ironclad.
While many farmers would welcome more Chinese purchases of their
products, some experts warned that Mr. Trump’s deal could make them more
vulnerable in the longer run.
“Of most concern, the deal turns Chinese purchases of U.S.
agriculture from a constant to an uncertain variable that is now subject
to the instability of U.S.-China relations,” Evan S. Medeiros, a
Georgetown University professor who was senior Asia director in the
Obama White House, said in an email. “That’s a devastating shift for
U.S. farmers.”
In what is arguably the most robust part of the accord, China is
committing to some big changes to its agricultural policy. The country
will get rid of certain health standards that Chinese officials have
used to block a variety of American agricultural goods.
Beijing is also relaxing licensing, inspection and registration
rules that the United States has viewed as barriers to trade. The
changes will affect products including meat, poultry, pet food, seafood,
animal feed, baby formula, dairy and biotech.
Darci Vetter, a former agriculture negotiator for the Obama
administration, said the section on agriculture “addressed a number of
longstanding irritants” that have stopped shipments of milk, chicken,
beef and pork.
Ms. Vetter said that the agreement in this area was surprisingly
reciprocal, granting concessions that China was seeking to ensure its
exports are treated more fairly in the United States.
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