Chinese and U.S. flags flutter outside a company building in Shanghai, China November 16, 2021. REUTERS/Aly SongU.S. officials called on Monday for “concrete action” from China to make good on its commitment to purchase $200 billion in additional U.S. 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 U.S. 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 U.S. farm and manufactured goods, energy and services.

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

U.S. President Joe Biden has said the trade deal did not address the core problems with China’s state-led economy, but U.S. 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 U.S. 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.

Read more…