Free Trade Agreement Between China And Us

Negotiations began in 2005 and were greatly accelerated after Chinese President Xi`s state visit to Australia in November 2014. The agreement was signed on June 17, 2015. The China-Costa Rica Free Trade Agreement (FTA) came into force on 1 August 2011. Negotiations on the free trade agreement began in January 2009 following the visit of Hu Jintao, then Chinese President, to the Central American country in November 2008. After intense one-year negotiations, the two sides signed the free trade agreement in April 2010. Hun Quach, vice president of international trade for the Retail Industry Leaders Association, said tariffs will affect U.S. family homes by increasing the price of everyday items. [286] [298] [299] Ms. Vetter stated that the agreement was surprisingly reciprocal in this area and granted concessions that China wanted to ensure that its exports to the United States were treated more equitably. In August 2019, Peter Navarro, Trump`s trade adviser, said tariffs do not harm Americans. Politifact called Navarros` claim ”Pants on Fire.” [218] James Andrew Lewis of the Center for Strategic and International Studies said the United States of China needs a commitment to respect international trade rules and standards and to extend mutual treatment to U.S. companies in China. [316] The China-U.S.

trade war (贸易战) is a persistent economic conflict between China and the United States. In 2018, President Donald Trump began imposing tariffs and other trade barriers against China, in an effort to force China to change what the United States calls ”unfair trade practices” and theft of intellectual property. [1] The Trump administration has stated that these practices may contribute to the U.S.-China trade deficit and that the Chinese government requires the transfer of U.S. technology to China. [2] In response to U.S. trade measures, the Chinese government accused the Trump administration of protectionism. [3] On 15 January 2020, the two sides agreed to a phase 1 agreement, but tensions remained high. For some trade experts, this new agreement shows that the rest of the world will not wait for the United States.

The European Union has also conducted trade negotiations at an aggressive pace. While other countries are signing new agreements, U.S. exporters may gradually lose ground. In July 2018, academic Xu Zhangrun said the trade war exposed the underlying weaknesses of China`s political system and criticized Chinese President Xi Jinping for his ”excessive pride” and ”vanity policy.” [259] [260] Last week, Chinese President Trump and Chinese Vice Premier Liu He met to sign a phase one trade agreement.