China is far behind and is 'never gonna catch up' with the Phase 1 trade agreement with the US, an expert says

Kevin Lamarque/Reuters

• Scott Kennedy of the Center for Strategic and International Studies, told CNBC's Squawk Box that China may never catch up with its commitments under the Phase One trade deal with the United States.
• He said: "If it's really based on the genuine commitments that they inked in January, they're far behind and they're never gonna catch up."
• China and US signed the deal in January after more than a year of trade disputes. 
• But tensions between both countries have increased over Hong Kong legislation, as well as who is responsible for the COVID-19 pandemic.
• Recent data by the Peterson Institute for International Economics, showed China has bought less than half of the imports it should have from the US by the first half of the year. 
• Visit Business Insider's homepage for more stories.

China is lagging far behind its commitments under the phase one trade deal with the US and is likely to never "catch up" with them, an analyst warned. 

Scott Kennedy, senior advisor and Trustee Chair in Chinese Business and Economics at the Center for Strategic and International Studies, told CNBC's "Squawk box" Friday, China has fallen short so far and is unlikely to meet its target.

See the rest of the story at Business Insider

NOW WATCH: What it's like inside North Korea's controversial restaurant chain

See Also:

• Trump pledged to permanently scrap the payroll taxes used to fund Social Security and Medicare if he wins re-election
• How $600 unemployment benefits to jobless people helped rescue the American economy
• Trump implementing a payroll tax cut through executive order would blow a hole in Social Security and Medicare's finances, economists warn

from Feedburner https://ift.tt/3at71mL