China said on Thursday that it hopes the US can create conditions for greater trade cooperation, after Chinese purchases of US goods in the last two years fell short of the targets set in a Trump-era trade agreement.
According to data compiled by the Peterson Institute for International Economics, China has fallen short of its promises in a "Phase 1" trade agreement to increase purchases of US goods by $200 billion during 2020 and 2021 compared to 2017 levels, reaching only around 60% of the target through November 2021.
"China has worked hard to overcome several adverse factors caused by the impact of a pandemic, the global recession, and supply chain disruptions since the agreement came into effect, and pushed for the implementation of the deal from both sides," Commerce Ministry spokesperson Shu Jueting said.
"We hope the US could create a favourable environment and conditions for both sides to expand trade cooperation," Shu said, adding that the trade teams of the two nations are maintaining contact.
US Agriculture Secretary Tom Vilsack said on Tuesday that the US will continue to press China on the importance of fully implementing the trade agreement before negotiating extensions.