U.S. Trade Representative (USTR) Jamieson Greer announced on Oct. 24 a new investigation into whether China upheld the “Phase One” agreement signed toward the end of President Donald Trump’s first term.
The probe comes ahead of Trump’s high-stakes meeting with Chinese Communist Party (CCP) leader Xi Jinping on Oct. 30, where the two are expected to hash out a trade deal that includes Beijing rolling back the wide-ranging rare-earth restrictions announced earlier this month.
Phase One, which went into effect as Trump left office, is widely considered to have fallen by the wayside.
Under the agreement, China was meant to purchase at least $200 billion in U.S. agriculture, energy, manufactured products, and other services above a 2017 baseline, but it did not. According to U.S. data, China fell short of its commitment by 60 percent….