US-China trade deal delivering despite coronavirus

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foxbusiness The U.S. and China have begun delivering on their commitments under a phase one trade deal despite global turmoil from the COVID-19 pandemic.
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⁣The accord between the world’s two largest economies, which conducted $559 billion worth of commerce last year, calmed trade tensions in January and was expected to boost U.S. gross domestic product by at least a half percentage point and create a million jobs. Despite the virus-induced slowdown since, growers and business leaders remain upbeat about its payoffs.

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The U.S. and China have begun delivering on their commitments under a phase one trade deal despite global turmoil from the COVID-19 pandemic. ⁣ ⁣The accord between the world’s two largest economies, which conducted $559 billion worth of commerce last year, calmed trade tensions in January and was expected to boost U.S. gross domestic product by at least a half percentage point and create a million jobs. Despite the virus-induced slowdown since, growers and business leaders remain upbeat about its payoffs. ⁣ ⁣“What we know right now with respect to the phase one agreement with China and what we've seen on behalf of the Chinese is they've taken meaningful steps to address some of the non-tariff barriers to trade that we had,” John Newton, chief economist at the American Farm Bureau, told reporters on a conference call on Wednesday.

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