China bought barely 58% of what was agreed upon in the first phase of the trade agreement from the US

Madrid, 22 one. (Europe Press) –

China and the United States formalized the first phase of their trade deal a year ago to end the tensions that undermined relations between the two powers during Donald Trump’s presidency and that included increasing Chinese imports of American products, something that the Asian giant would do. It only partially complied, according to an analysis by the Peterson Institute for International Economics.

According to the estimates made, although the first phase of the trade agreement agreed upon by Beijing and Washington has considered increasing imports of some American products to China to reach $ 173.1 billion (142.307 million euros) in 2020, the Asian giant’s purchases are covered. Under the treaty. It would have reached $ 100,000 million (€ 82,222 million), 58% of the target set.

In the case of agricultural products, China committed to purchasing goods for an additional $ 12.5 billion compared to the 2017 level, which means an annual target of $ 36.6 billion (30.09 billion euros), although as of December, China’s total imports of agricultural products reached 23,500. One million dollars (19,320 million euros), 64.2% of what was agreed

For its part, Beijing agreed to buy an additional $ 32.9 billion (€ 27.045 million) in manufacturing, up to the annual target of $ 111.2 billion (€ 91.405 million) that would have been obtained up to December of nearly 60%. $ 66,700 million (€ 54,824 million).

Likewise, Chinese imports of energy products from the United States will amount to $ 9,800 million (€ 8,054 million) through December, 39% of the annual target of $ 25,300 million (€ 20,793 million).

As for the rest of the products whose objectives of the first phase of the trade agreement were not specified, which represent about 29% of Chinese imports from the United States, the total purchases of the Asian giant in the first year of the agreement reached 35 thousand million dollars (28,762 million dollars). EUR), which is a 23% decrease compared to the 2017 benchmark levels.