In a February 8 report for the Peterson Institute for International Economics, Dr. Chad Bown argues that the U.S.-China Phase One Trade Deal should be examined by the Biden administration. The centerpiece of the trade deal – China’s pledge to buy $200 billion more of U.S. goods and services split over 2020 and 2021 – has thus far fallen far short of its target. Other elements of the deal, such as China’s commitment to reduce nontariff barriers and open up to foreign investment, merit consideration as the new administration develops its international economic policies. A fresh U.S. policy approach toward China is needed, and should be undertaken jointly with like-minded countries.
Dr. Chad Bown discusses the trade deal and prospects for American trade policies toward China in the new administration in an interview conducted on March 10, 2021.
