Future of US-China Trade Deal Uncertain as Beijing Fails to Meet Phase One Targets

WASHINGTON—China has fallen short on meeting its pledges in the “phase one” trade agreement signed last year and the Biden administration will soon commence a review of the deal to determine a proper policy response.

Treasury Secretary nominee Janet Yellen said there would be no immediate moves to lift punitive tariffs on Chinese imports that were imposed by the Trump administration.

“We are closely monitoring China’s adherence to all of its Phase One commitments, including both the purchase commitments and structural commitments,” she said on Jan. 21, in a written...