US urges China to honor US$200b purchase deal

US officials yesterday called for "concrete action" from China to make good on its commitment to purchase US$200 billion (HK$1.5 trillion) in additional US goods and services in 2020 and 2021 under the "Phase 1" trade deal signed by former President Donald Trump.

The officials said Washington was losing patience with Beijing, which had "not shown real signs" in recent months that it would close the gap in the two-year purchase commitments that expired at the end of 2021.

The comments come a day before the US government is due to release full-year trade data that analysts expect to show a significant shortfall in China's pledge to increase purchases of US farm and manufactured goods, energy and services.

Through November, China had met only about 60 percent of the goal, according to trade data compiled by Peterson Institute for International Economics senior fellow Chad Bown.

US President Joe Biden has said the trade deal did not address the core problems with China's state-led economy, but US officials have pressed Beijing to make good on the deal as signed.

"Because we inherited this deal, we engaged the (People's Republic of China) on its purchase commitment shortfalls, both to fight for US farmers, ranchers and manufacturers and give China the opportunity to follow through on its commitments. But our patience is wearing thin," said one of the officials.

US officials said they would continue to press China to show "serious intent" to reach an agreement on their purchase commitments, but conceded the framework of the deal offered them little leverage to enforce the purchase commitments.