When the trade deal between China and the U.S. was signed in January 2020, there was some hope it would lead to a reduction in bilateral tensions and restore some balance to trade, but those goals are proving elusive as 2021 comes to a close.
In the 23 months since then-President Donald Trump signed the phase-one agreement, Chinese imports from the U.S. have indeed hit a new record. However, as of the end of last month Beijing was well behind on promises made -- buying little more than 59% of the extra $200 billion in manufactured, agricultural and energy goods it said it would by the end of 2021.
