Despite Recent Rally, China’s Phase One Purchases Sputtering

WASHINGTON, DC – As the Phase One Trade Agreement between the United States and China concludes its first year, the Peterson Institute for International Economics says through the second month of 2021, China’s purchases of all covered products reached 76 percent of the year-to-date target. For agricultural products listed in the agreement, China committed to a year-to-date target of $11.4 billion and through February (2021) has purchased only $8.7 billion. These purchases move China to 77 percent of their year-to-date commitment, though both countries dealt with fallout from the global COVID-19 pandemic for most of 2020.
(SOURCE: All Ag News)