China and the US sign the first phase of economic and trade agreement

The important items of the agreement as below:

1 In the two years from January 1, 2020 to December 31, 2021, China should ensure that, above the base in 2017, it should expand the purchase and import of manufactured goods, agricultural products, energy products and services from the United States to not less than 200 billion US dollars.
2 In terms of agricultural products, above the base in 2017, China’s procurement and imports from the United States in the calendar year 2020 should be no less than 12.5 billion U.S. dollars, and its procurement and imports from the United States in the calendar year 2021 should be no less than 19.5 billion U.S. dollars.
3 In terms of services, above the base in 2017, China’s procurement and imports from the United States in the calendar year 2020 should be no less than US $ 12.8 billion, and in the calendar year 2021, its purchases and imports from the United States should be no less than US $ 25.1 billion.
4 In terms of manufactured goods, above the base in 2017, China’s procurement and imports from the United States in the calendar year 2020 should be no less than 32.9 billion U.S. dollars, and its procurement and imports from the United States in the calendar year 2021 should be no less than 44.8 billion U.S. dollars.
5 In terms of energy products, above the base in 2017, China’s procurement and imports from the United States in the calendar year 2020 should be no less than 18.5 billion U.S. dollars, and its procurement and imports from the United States in the calendar year 2021 should be no less than 33.9 billion U.S. dollars.

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