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The United States-China trade war started in 2018 and has never officially ended. So, which side has been “winning” it?

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The ‘phase one’ trade deal between the United States and China entered into force on 14 February 2020. As part of this agreement, China agreed to make structural reforms, open up its financial services and strengthen intellectual property. China also pledged to buy at least US$200 billion in additional US goods and services over 2020 and 2021.

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The US-initiated trade war against China further failed in 2021, while economic ties between China and the US did not see any substantial progress over the past year, He Weiwen, a former senior trade official and an executive council member of the China Society for World Trade Organization Studies, said at the Global Times Annual Forum on Saturday.

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China pulled back on its already halting progress toward meeting its U.S. trade deal targets, slowing purchases of all types of goods covered by the agreement.

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As the two-year deadline for the phase-one trade deal between the world’s two largest economies is approaching, all eyes are on the next step.

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Chinese Vice Premier Liu He and U.S. Trade Representative Katherine Tai met virtually on Saturday morning to discuss trade issues between the two countries.

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China remained on course to be more than 30 per cent short of its 2021 commitments under the phase-one trade deal with the United States.

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U.S. companies' optimism about business conditions in China has recovered to hit three-year highs even though the firms have reservations about Beijing's COVID-19 policy, an annual survey showed on Thursday.

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China's new ambassador to the United States called on Monday for stable and constructive commercial ties between the world's two biggest economies, even as they struggle to resolve political and trade differences, a trade group said.

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The White House is close to announcing investigations into Chinese use of industrial subsidies, the prelude to imposition of tariffs. The probes are known as “301s”, the section of US trade law that allows them.

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