Chad P. Bown (PIIE)
The centerpiece of President Donald Trump’s much anticipated “phase one” trade agreement with China, signed January 15, is a commitment by Beijing to import an additional $200 billion worth of American goods and services over the next two years. Trump is certain to cite that pledge time and again in his re-election campaign. Many experts were, of course, quick to note that China’s promised purchases are bound to fall short. In fact, a close look at the data—presented below—shows that the numbers are even more unrealistic than first believed.