China Is Buying American But Not Enough to Hit Trade Deal Target
- By end-June China had bought less than a quarter of target
- Purchases accelerated slightly in June led by vehicles, pharma
Photographer: Daniel Acker/Bloomberg
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China continues to lag behind the pace of imports from the U.S. needed to meet the terms of the two nations’ trade deal, amid a rapidly worsening diplomatic standoff that’s sparking global fears of a new Cold War.
By the end of the first half of this year, China had bought about 23% of the total purchase target of more than $170 billion for goods in 2020, according to Bloomberg calculations based on Chinese Customs Administration data. That has quickened on a month-over-month basis from May’s 19% marker, but it means China needs to buy about $130 billion in the remainder of the year to comply with the agreement signed in January.