As one of the world`s largest economies, China`s trade relationship with the United States has always been a topic of discussion. Many are curious if China has a trade agreement with the US, and the answer to that question is complicated.
The short answer is that China and the United States do not have a formal trade agreement. However, they do have other trade-related agreements and policies in place.
The US and China have long been each other`s top trading partners. The two countries have been trading with each other for centuries, and today that relationship is responsible for billions of dollars in goods and services being exchanged each year.
Under President Trump`s administration, there was an effort to create a formal trade agreement with China. However, negotiations broke down in May 2019, and talks have not resumed since then.
While there may not be a formal trade agreement in place, China and the US do have other agreements and policies that impact their trade relationship. The two countries are both members of the World Trade Organization (WTO), which provides a framework for trade disputes and sets rules for international trade.
Additionally, in January 2020, the US and China signed a phase one trade agreement that addressed issues such as intellectual property theft, technology transfer, and agricultural trade. However, the agreement did not fully resolve the ongoing trade tensions between the two countries.
The current state of US-China trade relations is uncertain, particularly with the recent change in US administration. President Biden has indicated that he will review existing trade policies and may take a different approach to negotiating with China than his predecessor.
In conclusion, while there is no formal trade agreement between China and the United States, the two countries do have other agreements and policies in place that impact their trade relationship. The future of their trade relationship is uncertain, but it will undoubtedly continue to be an essential topic for both countries and the rest of the world.