Phase 1 falls $21B behind schedule as U.S.-China relations worsen — Panjiva
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Supply Chain Research

Phase 1 falls $21B behind schedule as U.S.-China relations worsen

Ags - Grains/Beans 297 Ags - Meat/Dairy 250 China 2966 Cons. Discr. - Autos 1174 Energy - Natural Gas 153 Energy - Refined Oil 198 Health Care 351 Tariffs 1789 Trade Deals 999 U.S. 5312

Relations between the U.S. and China appear to be worsening amid a spat over the origins and handling of the coronavirus pandemic. President Trump has already raised the prospect of increased tariffs which would breach the phase 1 trade deal. At the same time though China’s imports from the U.S. have been in decline, dropping 23.5% year over year in March in total, which may breach the purchase commitments made in the deal. There was a 16.2% year over year slide in U.S. exports of the 548 products covered by the pact in March versus 2019 as well as a 14.4% slide versus 2017, the baseline...

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