Reported about 9 hours ago
The Phase 1 trade deal between the U.S. and China, signed in 2020, aimed for China to increase purchases of U.S. goods by $200 billion over two years, but the targets were not met due to the COVID-19 pandemic. The agreement led to a reduction in tariffs on some Chinese imports, while maintaining others. Highlights include commitments from China to enhance intellectual property protections, refrain from competitive currency devaluations, and avoid pressure on foreign companies to transfer technology as a market access condition.
Source: YAHOO