- Negotiations
Washington and Beijing began formal negotiations towards a bilateral investment treaty (BIT) in June 2008. A year later, the highly sensitive talks were halted until July 2013. The US is interested in getting Chinese restrictions on foreign ownership in about 100 sectors — from soybean oil and automobiles to life insurance and other financial services — lifted for US companies which want to expand their market presence there. The Chinese government is interested in getting more security for highly-scrutinised Chinese investments in the US and its massive holdings of US sovereign debt ($1.3 trillion).
In late 2013, China agreed to initiate talks on a possible BIT with the European Union as well.
July 2014
15-Feb-2023
Reuters
Beijing promised to speed up access to its market under the Phase 1 trade deal concluded with the United States in 2020.
7-Feb-2022
Reuters
US officials called for "concrete action" from China to make good on its commitment to purchase $200 billion in additional US goods and services under the "Phase 1" trade deal signed by former President Trump.
25-Jan-2022
Bloomberg
The landmark trade deal signed in 2020 between the world’s two largest economies failed to reduce the bilateral trade deficit.
13-Jan-2022
Reuters
China hopes the United States can create conditions to expand trade cooperation, after Chinese purchases of U.S. goods in the past two years fell short of the targets in a Trump-era trade deal.
22-Nov-2021
South China Morning Post
As the two-year deadline for the phase-one trade deal between the world’s two largest economies is approaching, all eyes are on the next step.
11-Oct-2021
Kyodo
They reviewed the implementation of the phase one deal and agreed that the two sides would "consult on certain outstanding issues," the USTR office said.
27-Sep-2021
CNBC
China will likely fail in its bid to join the Comprehensive and Progressive Trans-Pacific Partnership — but its move to submit an application highlighted the lack of U.S. economic policy in Asia-Pacific, said analysts.
3-Jun-2021
South China Morning Post
In this competition over standards, whichever nation first strikes a trilateral deal with technology leaders Japan and South Korea will secure a strategic chokepoint in the digital architecture of Asia.
27-May-2021
South China Morning Post
USTR said the phase one trade deal was important but only one part of a challenging and complex relationship between the world’s two largest economies.
6-May-2021
Reuters
US Trade Representative said she expects to engage “in the near term” with Chinese officials to assess their implementation of the “Phase 1” trade deal.
