Trade Agreement Today

Trade talks between the U.S. and China lasted more than two years, racking up $370 billion in tariffs on Chinese goods, whipping financial markets and tarnishing global growth prospects long before the coronavirus crushed them. “We look forward to working with our Mexican friends and allies on an ambitious new trade agreement in 2021. This will allow our two countries to go much further in areas such as data, digital trade, investment, intellectual property and services. The European Commission reports annually on the implementation of its main trade agreements during the previous calendar year. Today, we are taking an important step that has never been taken with China towards a future of fair and reciprocal trade, as we sign the first phase of the historic U.S.-China trade agreement. Together, we are correcting the injustice of the past and ensuring a future of economic justice and security for American workers, farmers, and families. And it will be a great deal for both countries. That`s well over $200 billion and it`s going to grow every year. It also unites countries. The United States has implemented 14 trade agreements with a total of 20 countries.

“If the government lets the Phase 1 deal die, it becomes difficult to justify the pain caused by the long trade war,” she wrote in an essay this week. Current and former U.S. officials and trade experts in both countries say the Phase 1 deal, signed in January after nearly two years of tariffs and furious rhetoric, is the only area in which the world`s two largest economies are still collaborating. . . .

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