define print in art - Alright, before we get to 2022, let's rewind a bit to the **Phase One trade deal**, which was signed in January 2020. This agreement was meant to be a stepping stone towards resolving the trade war that had been brewing between the US and China. The main goal? To address trade imbalances and other issues. Key components of the Phase One deal included China's commitments to purchase an additional $200 billion worth of US goods and services over two years, protection of intellectual property rights, and a resolution of some currency manipulation concerns. Sounds good, right? Well, the reality was a bit more complex. While the agreement provided some stability, its implementation faced challenges. China's purchasing commitments were not fully met, and tensions remained over various issues. The *pandemic* also threw a wrench into the works, disrupting global supply chains and affecting trade flows. Despite these hurdles, the Phase One deal did offer a framework, even if it wasn't a complete solution. It's important to remember this context as we move into what happened in 2022.
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