The US and China trade talks resumed last week to check in
how the Phase One agreement in February has played out. The pandemic shook the
world and the trade talks couldn’t continue since February and it was
especially hard for China to keep their end of the bargain and purchase a set
amount of US goods. With increasing tensions over Chinese apps like TikTok and
WeChat, the negotiating turf is not very ideal.
The Phase One deal shows that under the initial agreement in
early 2020, a large part of bilateral tariffs is still in place. China and the US
lowered some tariffs but have been granting exceptions to the traders on a
case-by-case basis.


