The Indicator NPR hide caption
China-U.S. Trade Agreement Fail
The Indicator NPR hide caption
Remember the U.S. trade war with China that started a few years ago? The one where each country raised tariffs on products imported from the other country, again and again? Well, almost exactly a year ago, the trade war was put on pause because of an agreement that the two counties reached with each other.
In exchange for the U.S. promising to not raise any new tariffs and reduce certain existing ones, China promised that it would buy 200 billion dollars more of U.S. goods than it was buying before the trade war started. This unprecedented deal was particularly notable because it set an explicit — and quite ambitious — spending target.
On the show, Chad Bown, a trade economist at the Peterson Institute for International Economics, discusses how much China has actually been spending on U.S. imports since the trade deal, and what could come next if they fall short of the mark.
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