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China just agreed to buy $200 billion worth of US products
"We think it is highly challenging for China to import $200 billion more goods and services from the US over the next two years without reducing imports from elsewhere," said analysts at UBS.
Agricultural goods account for a big chunk of the new purchases. Under the agreement, China will buy an additional $12.5 billion of those goods in year one, and then $19.5 billion in year two, compared to 2017.
Among the products it has promised to buy are soybeans, pork, cotton and wheat. Trade in soybeans and pork in particular has been hit hard as tensions have escalated between the world's two largest economies.
Both products were among thousands of US goods hit by Chinese tariffs in July 2018, in response to the Trump administration's taxes on $34 billion of Chinese goods.
In addition to the purchases announced on Wednesday, the initial deal provides better protection to American companies that have long complained about thefts of their intellectual property and trade secrets.
https://edition.cnn.com/2020/01/16/business/us-china-phase-1-trade-deal-details/index.html
Hard to get an accurate picture of the new trade deals but so far it looks like Trump scored major wins for the American economy.
