On January 15, 2020, President Donald Trump and Vice Premier Liu He signed a Phase One trade agreement between the United States and China, cooling a near two-year tit-for-tat tariff escalation. The agreement locks both countries into commitments on several issues of importance to USCBC and our members.
Notably, the deal formalizes a series of commitments on intellectual property protection, financial services openings, and structural changes that will expand trade flows between China and the United States. Implementation of these commitments hinges on a dispute resolution system, the first of its kind between the United States and China, that establishes two new bilateral dialogues and facilitates remedial talks if any issues arise.
The agreement is a positive step that stabilizes the bilateral relationship, but some critics have called the agreement overly ambitious and vague. To better understand how the US business community views the Phase One deal and its efficacy, we asked our members a series of related questions shortly after the deal was released.