This is more like a peace treaty than a trade agreement.  International agreements are largely about leverage, not about doing the right thing, taking a symbolic stance, or standing on principle.  Against China we have almost no leverage.  And with the current gong-show in the US, the Chinese are further flexing their muscles and preparing to take over as the world superpower.  We can align with them or get run over.  They will own everything.

I admire the government's attempt at this, but I don't think it will amount to much.  We shall see.