But a new study finds China didn’t even spend an additional dime on U.S. products.
Capitol Report (June 2020): Trump asked China’s Xi to buy U.S. farm products to help him win re-election, Bolton book says.
Also see (June 2020): Bolton book adds urgency to Trump bid to depict himself as a China hawk and to paint Biden as a Beijing apologist.
Chad Bown of the Peterson Institute for International Economics examined the so-called Phase 1 agreement inked during the administration of former President Donald Trump.
China agreed to buy at least $227.9 billion of U.S. exports in 2020 and $274.5 billion in 2021, for a total of $502.4 billion over the pact’s two years, he noted.
In reality: U.S. exports of covered goods and services to China over the two years totaled $288.8 billion.
The trade war that preceded the trade pact, finalized in January 2020, meant that U.S. goods exporters started in a hole, Bown said. »