The Reagan administration gave Taiwan the « Six Insurance » and the commitments it would meet under the Taiwan Relations Act, that it would not mediate between Taiwan and China, and that it did not have a fixed date to stop arms sales to Taiwan. The Reagan administration then signed a third joint communiqué with the People`s Republic of China in August 1982 to normalize relations. It reaffirms the United States` commitment to its one-China policy. Although Ronald Reagan expressed support for stronger relations with Taiwan during his presidential campaign, his government was working to improve relations between Beijing and Washington at the height of U.S. concerns about Soviet expansionism. President Reagan visited China in April 1984 and in June, the U.S. administration authorized Beijing to purchase U.S. military equipment. The Chinese government has challenged the forced transfer of intellectual property as a mandatory practice and has recognized the impact of domestic research and development in China. [61] Former U.S. Treasury Secretary Larry Summers said that in some technological areas, Chinese leaders are the result of « enormous state investments in basic research » and not « theft » of U.S. real estate. [62] In March 2019, the National People`s Congress approved a new foreign investment law, which will come into force in 2020, expressly prohibiting the forced transfer of intellectual property from foreign companies and further protecting intellectual property rights and foreign trade secrets.

China also planned to lift restrictions on foreign investment in the automotive industry in 2022. AmCham China`s political committee chairman, Lester Ross, criticized the bill and said the law was « rushed » and « broad, » and also criticized part of the law that gave it the power to retaliate against countries that impose restrictions on Chinese companies. [63] [64] « While the government claims to want to strengthen market forces in China, the president`s welcomed purchase commitments will only strengthen the state`s role in the economy, » said Daniel Price, a former George W. Bush administration official and chief executive of Rock Creek Global Advisors. At the 45th G7, British Prime Minister Boris Johnson said: « We don`t like tariffs overall. » [336] An ABC article reported that U.S. allies warned Trump of his trade war with China during the summit, but that Trump said he was not under pressure from his allies because of the trade war. [336] European Council President Donald Tusk has said that the trade war could be a global recession. [337] 2.

On July 6, 2018, the Trump administration imposed its first tariffs on $34 billion in Chinese goods. China returned the favour at the same time. The two countries have imposed tariffs until September 2019, together covering more than $450 billion in bilateral trade. The January 2020 agreement applies to U.S. exports of goods and services. Because detailed data on high-frequency trade for services are not available, these commitments are not assessed here. But on the same day, the U.S. administration denied Mr. Trump a plan for talks with China.

The U.S. Trade Representative`s office did not respond to questions about proposed revisions to the trade agreement. No new meeting date has been scheduled after this update. While other presidents have tried to change China`s economic approach, Mr. Trump has pledged to do so. The agreement stipulates that « China must ensure » that its purchases reach $200 billion by 2021, guaranteeing an export boom as a master.