US Shouldn't Abandon Phase 1 Agreement With China

By Bashar Malkawi (December 8, 2021, 5:54 PM EST) -- The economic and trade agreement between the U.S. and China, known as the Phase One deal, entered into force on Feb. 14, 2020.[1]

Through this agreement, China pledged, among other things, to make structural reforms, open its financial services and strengthen intellectual property. China agreed to buy at least $200 billion more in U.S. goods and services by the end of this year.

However, after almost two years, complaints have arisen about China's failure to meet its obligations under the Phase One deal.[2] According to some statistics, China has reached only 62% of that target.[3]

With the agreement set to expire...

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