World Perspectives

U.S. – China Tea Leaves; Underestimating Cattle Traders; Underestimating Europe’s Trade Policy

U.S. – China Tea Leaves Under the Phase One agreement, U.S. exports of goods to China this year were supposed to increase by 36.6 percent over the base year of 2017. Instead, they are down nearly 6 percent in the first four months of this year compared to 2019. U.S. agricultural exports to China were down 45 percent in the first quarter of this year compared with the first quarter of 2017. Notably, sales to China of U.S. manufactured goods like vehicles are even further behind. Interpreting the meaning of the two sides’ statements below following yesterday’s phone call does not sound encouraging. Chinese Vice Premier Liu He: The two sides agreed to: "create a favorable atmosphere and conditions" for the Phase One deal "...

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