An Update on the U.S.–China Phase One Trade Deal

Hunter Clark

No 20211006, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: A Liberty Street Economics post from last summer by Matthew Higgins and Thomas Klitgaard contained an assessment of the Phase One trade agreement between the United States and China. The authors of that note found that, depending on how successfully the deal was implemented, the impact on U.S. economic growth could have been substantially larger than originally foreseen by many of its critics, as a result of the fact that the pandemic had depressed the U.S. economy far below its potential growth path. Here we take another look at these considerations with the benefit of an additional year’s worth of trade data and a much different economic environment in the United States.

Keywords: China; trade; tariff (search for similar items in EconPapers)
JEL-codes: E2 F00 (search for similar items in EconPapers)
Date: 2021-10-06
New Economics Papers: this item is included in nep-cna, nep-int and nep-mac
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