The Archive — 2020
2020: Phase One and the pandemic
Phase One was signed in January; the pandemic then swallowed its purchase schedule whole. Export controls took over as the sharper instrument, while goods trade rebounded off the 2019 trough as China's recovery led the world.
Phase One Agreement Signed
The Economic and Trade Agreement is signed at the White House. Its purchase commitments — soybeans, energy, manufactures — become the yardstick for the next two years of coverage; a pandemic and a demand collapse will leave most targets unmet.
Semiconductor Foreign Direct Product Rule
Commerce tightens the Huawei noose: any chip made anywhere in the world with U.S. software or equipment now requires a license to ship to Huawei. The rule reshapes global semiconductor supply chains overnight.
WeChat and TikTok Executive Orders
Executive orders cite national security to prohibit transactions with the owners of WeChat and TikTok — the first time consumer apps become instruments of trade policy. Court injunctions and a subsequent change of administration will strand the TikTok ban in litigation.
Holding Foreign Companies Accountable Act
With bipartisan margins, Congress requires that securities of foreign issuers be delisted if audit inspections are blocked for three consecutive years — a law aimed squarely at Chinese companies listed on U.S. exchanges.