December 2, 2020
(Reuters) – U.S. President-elect Joe Biden will not immediately act to remove the Phase 1 trade agreement President Donald Trump inked with China, the New York Times https://www.nytimes.com/2020/12/02/opinion/biden-interview-mcconnell-china-iran.html reported on Wednesday.
In an interview with a Times columnist, Biden said he would not act immediately to remove the 25% tariffs that Trump imposed on about half of China’s exports to the U.S.
Under the agreement, China agreed to increase purchases of American products and services by at least $200 billion over 2020 and 2021.
(Reporting by Aakriti Bhalla in Bengaluru; Editing by Christian Schmollinger)