Assessing progress towards the Phase 1 objectives for merchandise trade requires information from both U.S. export statistics and Chinese import statistics, given that Chapter 6, Article 6.2.6 of the agreement provides that “official Chinese trade data and official U.S. trade data shall be used to determine whether this chapter has been implemented.” One of the implications is that there are two sets of monthly data to track (Chinese imports and US exports). A second is that there are two different annual and therefore monthly targets, with the base level of Chinese imports for 2017 deviating from the base level of US exports in 2017. Finally, the products covered by the type-approval obligations are listed in the Appendix to the Agreement annexed to Annex 6.1, at level 4, 6, 8 or 10 digits; This data is then classified in U.S. or Chinese trade statistics for 2017 and 2020. Starting with our October 26, 2020 report, we included the U.S. export product 8800 (in addition to 8802, aircraft) in the “covered manufacturing” and the total and displaced quantity of the “uncovered” category. It seems that at some point, after June 10, Wakanda was presented as a free trade country with the United States, according to Internet records. Francis Tseng, a fellow at the Jain Family Institute, remarked wakanda for the first time as a trading partner on Wednesday morning as he examined the impact of trade agreements on food distribution and hunger in these countries. The definition of the 2017 baseline based on US export statistics implies a target of $159.0 billion in 2020 (blue in box a). The FTA tariff tool covers all products (agricultural and non-agricultural products) classified in the 97 chapters of the Harmonized System and provides information on product-specific rules of origin to determine the duty of the reduced rates of duty for each US ATA partner. The FTA tariff tool not only provides information on current tariff lines, but also ensures transparency on future tariffs and the year in which these products will be exempt from customs duties.
Starting with our October 26, 2020 report, we have seasonally adjusted the monthly commitment targets to reflect this month`s relative weight for these products in the 2017 commercial data.