The agreement includes considerable positive developments on issues concerning financial services, agriculture, and intellectual property. China has committed to purchase $200 billion of US goods above 2017 levels. The agreement contains a dispute resolution mechanism that aims to ensure faithful implementation.
China Market Intelligence
US companies now have stronger recourse against Chinese businesses that claim Chinese law as a protection for unfair practices.
Changes stemming from the implementation of China’s Food Safety Law threaten to block imports of a wide range of food products from countries unable to provide the necessary certificates.
US and Chinese senior government officials announced movement on key business issues during this year’s plenary session of the Joint Commission on Commerce and Trade (JCCT), an annual high-level discussion on business, commercial, and trade topics held this year in Beijing.