The U.S. and China recently signed what’s being called “phase one” of a trade agreement, rolling back some tariffs on Chinese goods in exchange for China promising increased purchases of U.S. goods and services. David Dollar breaks down the details of the new deal, including China’s commitments on intellectual property rights and technology transfers, whether the U.S. can increase production to meet those export goals, and the likelihood of any further concessions anytime soon.
Thanks to audio producer Gaston Reboredo, Chris McKenna, Fred Dews, and Camilo Ramirez for their support.
The Current and Dollar and Sense are part of the Brookings Podcast Network.
It’s striking how little change there was in world trade patterns in 2020. By the end of the year, most of the change was surprisingly small.