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China Lags U.S. Trade Deal Target With Deadline Just Weeks Away

  • Latest data shows China reached 50.5% of full-year target
  • Outlook for trade deal is uncertain as Biden takes office
Corn And Soy Fields Ahead Of USDA WASDE Report
Photographer: Daniel Acker/Bloomberg

China is far away from meeting its U.S. trade-deal commitments, with the latest data showing it’s imported just over half of the American goods it promised to buy in the first year of the phase-one agreement.

In the first 11 months of the year, China purchased about 50.5% of the total 2020 target of $172 billion, according to Bloomberg calculations based on figures from the nation’s Customs Administration. The trade pact was signed between the two countries on Jan. 15.