Tree Frog Forestry News

U.S. and China sign phase one of a trade deal

By Robert Dalheim
The Woodworking Network
January 15, 2020
Category: Business & Politics
Region: United States, International

WASHINGTON – After nearly a two-year-long ordeal, the U.S. and China have signed phase one of a trade deal. …The deal contains up to $50 billion in agricultural purchase targets from the Chinese. …The deal includes provisions to root out the sale of counterfeit goods, boost Chinese market access, and calls for China to strengthen intellectual property protection. …A fact sheet released at the signing ceremony calls out hardwood lumber specifically as part of the Chinese purchasing agreement of U.S. manufactured goods. …The trade war had a major effect in 2019 – causing a $53 billion decline in U.S. imports from China and a $14.5 billion decline in exports to China. …Chinese furniture exports to the U.S. fell in miscellaneous wood furniture (down 19 percent), wood seats (down 21 percent), and upholstered wood chairs (down 13 percent). 

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