Two years ago, in January 2020, China signed the “phase-one” trade agreement with the United States in the hope of ending a 22-month-old “US-initiated” trade deadlock – to defuse a costly trade war and give relief to businesses and reassure the global economy, the Global Times reported.
Over the past two years, while China has faced all kinds of headwinds to fulfill the promises it made in the hard-won deal and bring some certainty to a battered global economy, the US has never stopped setting up roadblocks on a path that could have steered the two countries’ relations back on track, the report claimed. It said the key takeaway of the phase-one deal included China’s pledge to buy at least $200 billion more in US goods and services throughout 2020 and 2021.
Read the full report: Global Times.
The photo on this report was changed and the text amended on January 4, 2021.