China is far behind and is 'never gonna catch up' with the Phase 1 trade agreement with the US, an expert says
U.S. President Donald Trump shakes hands with Chinese Vice Premier Liu He during a signing ceremony for "phase one" of the U.S.-China trade agreement in the East Room of the White House in Washington, U.S., January 15, 2020.Scott Kennedy of the Center for Strategic and International Studies, told CNBC's Squawk Box that China may never catch up with its commitments under the Phase One trade deal with the United States.
Recent data by the Peterson Institute for International Economics, showed China has bought less than half of the imports it should have from the US by the first half of the year. China is lagging far behind its commitments under the phase one trade deal with the US and is likely to never "catch up" with them, an analyst warned.
But Kennedy said: "If it's really based on the genuine commitments that they inked in January, they're far behind and they're never gonna catch up.". All of this is on top of the purchases it made in 2017. China is the third-largest export market for the US and buys aircraft, machinery, medical goods and agriculture, among other goods.
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