China Trade Deal Details Protections for American Firms

As part of the agreement, China has committed to purchasing an additional $200 billion of goods over the next two years. That total includes $50 billion of new oil and gas exports, $32 billion of new agriculture, $78 billion of additional manufactured goods and $38 billion of new services, according to three people briefed on the deal.

Some trade experts have said the agricultural export commitments, which would translate to $16 billion in new shipments a year, would be difficult to meet without rerouting shipments to other countries.

But the targets for manufacturing and services, which include tourism and education, may be even harder. The number of Chinese students coming to the United States has been trending downward. And exports of manufactured goods, which will include Boeing airplanes, medical devices, automobiles and auto parts and factory equipment, are set far above current levels.

The agreement also includes substantial changes to Chinese regulations surrounding food, which Robert Lighthizer, Mr. Trump’s chief negotiator, discussed in a briefing with reporters in December. The changes will reduce barriers for products including meat, poultry, pet food, seafood, animal feed, baby formula, dairy and biotech, likely increasing American exports to China in those categories.

Article source: https://www.nytimes.com/2020/01/14/business/economy/trump-china-trade-deal.html?emc=rss&partner=rss