China And Us Trade Agreement 2020

Data Release Note: This update is based on October 2020 data released on November 25, 2020, for both Chinese and U.S. exports – preliminary data on U.S. exports to China, which are monitored under the agreement, will be released prior to full release scheduled for December 7, 2020. The next update is based on Data from November 2020, which will be released on December 25, 2020 (Chinese imports) and December 23, 2020 (U.S. exports). Preliminary U.S. export data for October recorded zero imports for aircraft (Harmonized Tariff Schedule 8800 and 8802); All data revisions will be included in a revision published on December 7. China Customs said China`s imports of aircraft (8802) were only $506 million in October. Minxin Pei, a scholar of Chinese politics at California`s Claremont McKenna College, argued that Xi`s ambition for China`s renaissance as a world power has proven hollow by the continuation of the trade conflict.

[259] Hun Quach, vice president of international trade for the Retail Industry Leaders Association, claimed that tariffs will influence U.S. family budgets by raising the price of everyday goods. [286] [298] [299] Some countries have benefited economically from the trade war, at least in some sectors, due to increased exports to the United States and China, in order to fill the gaps created by the decline in trade between these two economies. The first is the official position of the U.S. government. The Office of the U.S. Trade Representative (USTR) and the U.S. Department of Agriculture (USDA) recently released a report that China purchased $23 billion of U.S. agricultural products and closed 71 percent of the agricultural product purchases promised in the agreement. .

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