# Trump's phase one trade deal with China and the US election | PIIE

> A PIIE analysis says China has reached only 53% of its Phase 1 purchase target through September 2020, and Chinese imports of US goods are below pre-trade-war levels. Some US exports, including pork, accelerated in 2020.

- Date: 2020-10-27 · published 2020-10-27T12:00:00.000Z
- Category: trade · region China · magnitude low
- Page: https://feedsoft.ai/events/50504-trump-s-phase-one-trade-deal-with-china-and-the-us-election-piie
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Shortfall against the purchase commitment raises doubt about sustained Chinese demand for US farm products, a modest bearish risk for US soy and corn.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- HOGS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-06-26 | [Exclusive: China pens Argentine soymeal test deal with eye on US trade war disruption](https://feedsoft.ai/events/14659-exclusive-china-pens-argentine-soymeal-test-deal-with-eye-on-us-trade-war.md) | +2.5% | -2.0% |
| SOY | 2021-12-23 | [China to fall short on promises to U.S. as trade deal ends](https://feedsoft.ai/events/14969-china-to-fall-short-on-promises-to-u-s-as-trade-deal-ends.md) | -0.1% | +6.4% |
| SOY | 2021-07-29 | [ExportPlanning - US-China Phase One Deal: Tracking Progress H1-2021 - ExportPlanning](https://feedsoft.ai/events/45923-exportplanning-us-china-phase-one-deal-tracking-progress-h1-2021-exportplanning.md) | -2.0% | -6.0% |
| SOY | 2020-01-16 | [China's 'market condition' caveat on U.S. ag purchases adds to trade deal doubts](https://feedsoft.ai/events/54944-china-s-market-condition-caveat-on-u-s-ag-purchases-adds-to-trade-deal-doubts.md) | -2.1% | -3.5% |
| SOY | 2018-06-22 | [China's Retaliation to Trump's Tariffs \| PIIE](https://feedsoft.ai/events/64584-china-s-retaliation-to-trump-s-tariffs-piie.md) | -2.2% | -3.5% |
| CORN | 2021-12-23 | [China to fall short on promises to U.S. as trade deal ends](https://feedsoft.ai/events/14969-china-to-fall-short-on-promises-to-u-s-as-trade-deal-ends.md) | -0.7% | +3.1% |
| CORN | 2021-07-29 | [ExportPlanning - US-China Phase One Deal: Tracking Progress H1-2021 - ExportPlanning](https://feedsoft.ai/events/45923-exportplanning-us-china-phase-one-deal-tracking-progress-h1-2021-exportplanning.md) | -0.3% | -0.3% |
| CORN | 2020-01-16 | [China's 'market condition' caveat on U.S. ag purchases adds to trade deal doubts](https://feedsoft.ai/events/54944-china-s-market-condition-caveat-on-u-s-ag-purchases-adds-to-trade-deal-doubts.md) | +0.7% | -1.7% |

## Sources

- piie.com: https://www.piie.com/blogs/trade-and-investment-policy-watch/2020/trumps-phase-one-trade-deal-china-and-us-election

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.