In recent years, the United States and China have been embroiled in a complicated trade relationship. The two countries have been in the process of negotiating and implementing trade agreements to improve their economic ties. While many of these agreements have been successful, there is still much to be done to ensure that both countries can benefit from these agreements.

One of the most significant trade agreements that the United States has with China is the Phase One trade deal, which was signed in January of 2020. This agreement aimed to address some of the longstanding issues between the two countries, including intellectual property theft by China, forced technology transfer, and barriers to U.S. companies looking to do business in China.

Under the Phase One deal, China agreed to purchase significant amounts of U.S. agricultural products, including soybeans, pork, and other goods. In exchange, the United States agreed to reduce some of the tariffs that had been imposed on Chinese goods.

However, the Phase One trade deal has not been without its challenges. Since the outbreak of the COVID-19 pandemic in early 2020, China has fallen behind on its commitments to purchase U.S. goods. This has led to tensions between the two countries, as the United States has accused China of failing to live up to its promises.

Another key trade agreement between the United States and China is the U.S.-China Bilateral Investment Treaty (BIT). This agreement has been under negotiation for many years and aims to provide greater protections for U.S. businesses operating in China. However, negotiations have been slow, and the treaty has yet to be finalized.

In addition to these agreements, the United States and China have a number of other trade agreements in place. These include the U.S.-China Joint Commission on Commerce and Trade (JCCT), which meets annually to discuss trade issues between the two countries. There is also the U.S.-China Strategic and Economic Dialogue, which is a high-level forum for discussing economic and strategic issues.

Despite the challenges that exist in the U.S.-China trade relationship, there are signs that progress is being made. In December of 2020, China agreed to remove some of the barriers that had prevented U.S. financial companies from doing business in the country. This represents a significant step forward in the effort to improve economic ties between the two countries.

In conclusion, the United States and China have a complex and often challenging trade relationship. While progress has been made through various trade agreements, there is much work to be done to ensure that both countries can benefit from their economic ties. As negotiations continue, it will be important for both sides to remain committed to finding solutions that are mutually beneficial.