Us And China Trade Agreement Pandemic Clause

In addition to endangering public health and public safety, china`s re-election game will most likely result in high trade and investment costs, although White House officials insist that the January 15 agreement be «on track» for implementation. For example, U.S. Trade Representative Robert Lighthizer and Minister Perdue welcomed China`s actions to implement non-tariff measures in the agreement, such as expedited review of marketing applications for genetically modified plants and animals. (Inside U.S. Trade, March 24, 2020. Subscription required.) U.S. farmers, who depend on payments from the USDA Market Facilitation Program (MFP), are particularly vulnerable to retaliation. This program compensates them in part for the estimated modest incomes due to the impact of Chinese retaliatory duties on U.S. agricultural exports. A big question was whether China will keep its promises. Robert Lighthizer, Trump`s chief negotiator, said the pact would «create a very complex consultation process» with «escalation in different areas» to resolve the issues.

He added, however, that the details were still being worked out. The U.S. Economic and Security Commission of Inquiry, established two decades ago by Congress and appointed by members of both parties, said stagnant trade and consumer demand in China due to the virus «increase the possibility of disruption,» recalling Trump`s efforts to end two years of trade war with Beijing. , which it had begun in 2018. On January 11, White House officials said the Trump administration had sent at least 200 invitations to prominent figures to attend the signing ceremony, while the two countries had not yet completed the concrete content of the agreement. Another sensitive point, according to Politico, is a brutal compromise between Democrats` proposals to oversee the use of the CCC and increase the Supplemental Food Assistance Program (SNAP) over the Republican insistence that SNAP`s increases are contingent on Secretary Perdue`s decision to use CCC funds.