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The final tally is in, and the numbers are grim: Donald Trump's huge trade deal with China — the deal he trumpeted as a "transformative" victory for the U.S. — turned out to be a massive bust.
In addition, Trump ordered agencies like the Office of the U.S. Trade Representative to review trade relations between the U.S. and China. In 2020, during his first term, Trump signed a “Phase ...
In the memo, Trump asked the US Trade Representative to assess China's compliance with a trade deal the two countries signed in early 2020 and recommend actions — including tariffs — as needed.
October 11: Trump announced that the United States and China had reached a tentative agreement for the "first phase" of a trade deal, with China agreeing to buy up to $50 billion in American farm products, and to accept more American financial services in their market, with the United States agreeing to suspend new tariffs scheduled for October 15.
Trump frequently criticized the North American Free Trade Agreement, calling it "the worst trade deal the U.S. has ever signed". [34] He also called Trans-Pacific Partnership "the death blow for American manufacturing" and said it would "put the interests of foreign countries above our own". [35]
Another trade war would find China much more vulnerable than when Trump first raised tariffs in 2018, as it grapples with a deep property crisis, weak domestic demand and 16% youth unemployment ...
In the final year of Trump's term, the two nations agreed to a truce, signing a trade deal that scrapped some tariffs and reduced others. China also agreed to purchase an additional $200 billion ...
Trump's threatened new tariffs would appear to violate the terms of the U.S.-Mexico-Canada Agreement (USMCA) on trade. The deal which Trump signed into law took effect in 2020 and continued the ...