US-China trade: Phase One deal under scrutiny – UOB By pabspiovano China UnitedStates TradeWar TradeBalance Banks
Key Takeaways
“The structural imbalances have remained. US’ goods trade deficit with China widened to US$355.30 bn in 2021, up 14.5% from US$310.26 bn in 2020. This was the highest trade deficit since the record high of US$418.23 bn in 2018 before the trade tensions were ratcheted up.” “There is an avenue for bilateral evaluation and a process for dispute resolution under the agreement. For now, both sides have not announced any concrete steps for follow-up actions to address the shortfall in Phase One or a new trade deal but US-China trade relations will undoubtedly be marked by the race for technology supremacy in the coming years.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fauci: U.S. heading out of 'full-blown pandemic phase'Fauci said that he doesn't believe 'we are going to eradicate this virus,' but that it'll reach an 'equilibrium.'
Read more »
US beats out China to win mixed aerials Olympic debutZHANGJIAKOU, China (AP) — Ashley Caldwell thinks of Christopher Lillis as family, and Justin Schoenefeld as something even more. Together, they're Olympic gold medalists. The trio of Americans won gold in the Olympics’ first mixed team aerials event Thursday, giving the United States its first medals in the freestyle skiing discipline since Jeret “Speedy” Peterson in 2010.
Read more »
U.S.-born Eileen Gu calls China 'homeland' after winning gold in BeijingThe gold medalist skier, who was born and raised in California, called her critics 'uneducated' following her successful event on Tuesday.
Read more »
New China tariff probe among options considered by Biden -U.S. ChamberThe Biden administration is considering a new China tariff probe if current talks fail to persuade Beijing to follow through on its promised purchases of U.S. goods, energy and services, officials from the largest U.S. business lobbying group said on Wednesday.
Read more »
U.S. Curling Defeats China to Remain Undefeated and Ties for Top Spot on LeaderboardU.S. women’s curling team is tied for first at the 2022 Winter Olympics and remains undefeated after beating China on Friday.
Read more »
U.S. seeks trade talks with Mexico over endangered vaquita porpoiseThe United States is seeking the first-ever consultations with Mexico over its environmental obligations under the U.S.-Mexico-Canada trade agreement, including protection of the critically endangered vaquita porpoise, U.S. trade officials said Thursday.
Read more »