China Misses Trade Deal Targets, Raising Pressure on Biden
- China bought $237 billion of U.S. goods under 2020 trade deal
- Specific targets for Chinese purchases have now ended
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The landmark trade deal signed in 2020 between the world’s two largest economies failed to reduce the bilateral trade deficit, adding pressure on the Biden administration to deal with the unresolved economic problems with China.
In the two years since former President Donald Trump signed the deal in January 2020, China bought about $237 billion of U.S. agricultural, manufactured, and energy goods, 63% of the goods it promised to buy, according to Bloomberg analysis of official Chinese data.