Phase One Agreement is winding down. What’s next?

The US-China Business Council says exports to China in 2020 surged by $18.5 billion. Doug Barry with the US-China Business Council says that while the Phase One Agreement is winding down, China continues to purchase a large number of goods from the US. “Last year, goods exported to China were up 18 percent, and it looks like they’re at least that for the first six months of 2021 and maybe even a couple of percentage points higher,” Barry said. “So, the good news is that China is still buying a lot of things from the United States, and among those things are agricultural products, particularly grains but also beef and pork, from those states that produce those meats.”