„The importance of the Phase One agreement to the entire relationship is relatively small. It`s not the anchor that some thought it could be,“ said Scott Kennedy, a Chinese expert at the Center for Strategic and International Studies, who called the status of the trade agreement – if reports on Chinese orders to stop purchases are confirmed – „suspended on the wire.“ While the United States is currently focusing on domestic policy issues, including the need to fight the pandemic and rebuild its economy and infrastructure, I`m not sure the rest of the world is waiting for America to get its house back in order,“ said Jennifer Hillman, senior trade and international political economy official at the Council on Foreign Relations. „I think there needs to be reactivity measures for what China is doing.“ A conclusion drawn from the data is obvious. The Americans suffered when China`s retaliation devastated U.S. exports. Trump`s rate hikes have increased prices for U.S. consumers and costs for U.S. businesses. His politically motivated buying commitments may have caused more problems than they solved. After the election, the United States needs a new approach to solving its trade problems with China. Chinese politicians and continental economists are divided over the trade war. [258] [259] [260] In an August 2019 NPR article, while some leaders of the People`s Republic of China argued for a quick solution to the trade war to save China`s economy, others said the country should retaliate against the United States and avoid an agreement at all costs. [257] Soybeans are a good example of the anti-Trump reaction to trade policy.

Before the trade war, they accounted for nearly 60% of U.S. agricultural exports to China. China did not choose soybeans for random retaliation. Eight of the top 10 soybean-producing countries voted for Trump in 2016, including many major Swing States.8 The agreement, the Comprehensive Regional Economic Partnership (R.C.E.P., is limited in their scope. Yet it has considerable symbolic weight. The pact covers more humanity – 2.2 billion people – than any previous regional free trade agreement, and could help consolidate China`s image as the dominant economic power in its neighborhood. Technology is considered the most important part of the U.S. economy.

[35] According to U.S. Trade Representative Robert E. Lighthizer, China is pursuing a policy of „forced technology transfer“ at the same time as the exercise of „state capitalism,“ including the purchase of U.S. technology companies and the use of cyber-flights to obtain technologies. [35] As a result, in early 2018, Trump administration officials took steps to prevent state-controlled Chinese companies from buying U.S. technology companies and attempted to prevent U.S. companies from transferring their key technologies to China as entry costs. [35] According to political analyst Josh Rogin: „There was a belief that China was going to develop a private sector that would be compatible with the WTO system.

Chinese leaders have made a political decision to do the opposite. Now we have to react. [35] Due to the pandemic, the signing of the agreement was unusual on Sunday, due to the holding of separate ceremonies in each of the 15 member countries, all linked by video.

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