It was solely two years in the past that former President Trump struck a mega commerce take care of China, containing commitments by the Chinese language to buy huge sums of American exports. So how’s it going?
The large image: U.S. exports to China have solely been 57% of what was pledged as a part of the deal, beneath ranges earlier than the commerce warfare even started, in accordance with calculations by Chad Bown of the Peterson Institute for Worldwide Economics.
By the numbers: Bown finds
- Underneath the deal, China was to purchase $274.5 billion in American items and providers coated by the deal in 2021.
- The precise quantity: $154.5 billion.
The underside line: “President Trump’s commerce warfare and section one settlement did little to alter China’s financial policymaking,” Brown writes.
Editor’s observe: This text was initially revealed on Feb. tenth as a part of the Axios Capital e-newsletter. Join right here.