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MNI BRIEF: Biden May Put Less Stress on Phase One Quota- Ex-WH

MNI (Washington)
WASHINGTON (MNI)

Joe Biden may put less emphasis on China's obligations to buy U.S. products under the Phase One trade deal if he wins the presidential election, said Chad Bown, a senior fellow at the Peterson Institute for International Economics.

"I don't think on either side, the Chinese side or probably the Biden side, that the first thing they'd want to do would be to escalate and get back into 'trade war' mode with each other," he said Monday on a call with reporters. Bown, formerly on the White House Council of Economic Advisors under President Barack Obama, questioned "just how much of a priority a Biden administration would put on the technical commitments on purchases" in the Phase One agreement.

Data from Peterson estimates that exports to China through September are on pace with 2017 levels, still "well-short of the pace needed to fulfill the purchase commitments" outlined in the agreement.

MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
USDataPolicy NewsHomepageTradeBriefStoryRegionNorth America
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
USDataPolicy NewsHomepageTradeBriefStoryRegionNorth America

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