At the same time, China imported more pork to address local shortages caused by the outbreak, resulting in U.S. pork exports being exceeded for 2020 (see Figure 3 again). China`s pork imports from the rest of the world were also more than 400 percent higher in September than in 2017. And in one of the few parts of phase one agreement, which includes political commitments (Chapter 3), China agreed to address technical barriers to trade that had slowed pork imports. In August 2019, Roger Johnson of the National Farmers Union — which represents about 200,000 family farmers, ranchers and fishermen — said the trade war was creating problems for U.S. farmers, particularly the decline in U.S. soybean exports. to China. [288] [best source needed] That same month, the American Farm Bureau Federation — which represents big agribusiness — said the announcement of new tariffs “signals more problems for U.S. agriculture.” [289] In December 2019, the South China Morning Post reported that due to the trade war and the Chinese government`s crackdown on shadow banking, Chinese manufacturing investment grew at the lowest pace on record. [228] Wendy Cutler, vice president of the Asia Society Policy Institute, which negotiated trade pacts for the Obama administration, called the gains “reasonable but modest.” An analysis conducted by the Peterson Institute for International Economics found that in January 2018, before the trade war began, China imposed uniform tariffs of 8% on average on all its importers. By June 2019, tariffs on U.S.

imports had risen to 20.7 percent, while tariffs on other countries had fallen to 6.7 percent. [212] The analysis also found that average U.S. tariffs on Chinese goods increased from 3.1% in 2017 to 24.3% in August 2019. [213] For Mr. Trump and other supporters, the approach corrects previous trade agreements that allowed companies to be outsourced and resulted in the loss of jobs and industries. For critics, this is the kind of managed approach to trade that the U.S. has long criticized, especially when it comes to China and its control over its economy. Globally, foreign direct investment has slowed. [243] The trade war has hurt the European economy, particularly Germany, despite the trade relationship between Germany and China and between Germany and the United States. . . .

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