The pacts are also drawing comparisons to the Phase One trade deal reached during President Donald Trump’s first term. Analysts expect the investment pledges to go the way of the agricultural purchases China promised and never delivered upon, especially as the vows don’t appear to be legally binding.

The US will now temporarily block restriction on exports of chips and other technology to China, the Financial Times reported.

"The United States cannot afford to be weak in the face of the People’s Republic of China and its aggression around the world," said Democrat Jeff Merkley of Oregon, a lead sponsor of all three bills...