The phase one trade deal was signed in January 2020 between the United States and China after a protracted trade war. Under the agreement, China pledged to increase purchases of US goods and services, protect intellectual property, and not manipulate its currency.
While the deal marked a temporary truce in the trade dispute, it did not address some of the larger structural issues in the US-China economic relationship. Moreover, the Trump administration’s subsequent actions, including blacklisting Chinese tech companies and imposing sanctions, have strained the relationship further.
China has been cautious in its response to the phase one deal, expressing a willingness to implement it while also emphasizing the need for mutual respect and equal treatment in trade relations. Chinese officials have also criticized the US for what they perceive as interfering in China’s internal affairs and trying to contain China’s rise as a global power.
Overall, it seems that while the phase one deal has provided some relief from the trade tensions, there remain larger issues that need to be addressed for a more comprehensive and sustainable resolution to the US-China economic relationship.