U.S. trade chief Tai to unveil Biden’s China trade strategy on Monday

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WASHINGTON (Businesshala) – US Trade Representative Catherine Tai will unveil the Biden administration’s long-awaited strategy for troubled US-China trade relations in a speech at a Washington think tank on Monday, her office said.

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Tai will comment on the China trade policy review and participate in a question-and-answer session at the Center for Strategic Studies in Washington, USTR said in a statement on Thursday.

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Since taking office in March, Tai has been conducting a top-down review (here) of Washington’s China trade policy.

US Joe Biden has imposed tariffs on hundreds of billions of dollars worth of Chinese imports imposed by former President Donald Trump, but his administration has so far disclosed little about how it addresses China’s non-market trade and subsidy practices. Will do

Tai’s remarks on Monday at 10 a.m. EDT (1400 GMT) will mark the start of the final three months of “Phase 1,” the US-China trade deal Trump struck with Beijing in early 2019, easing a tariff war. made. The world’s two largest economies. It called on China to increase purchases of US farm and manufactured goods, energy and services by $200 billion over two years to the end of 2021, compared to 2017 levels.

Officials in the Biden administration say China has not met its commitments in the Phase I trade deal and intend to stick to its international trade commitments.

Chad Bown, a senior fellow at the Peterson Institute for International Economics in Washington, estimates Here As of August, China’s purchases of US exports are running at around 62% of the Phase I target based on US export data.

Tensions between the two economic powers have also increased as the United States restricts Chinese companies’ access to US sensitive technologies.

Tai has said (here) the United States faces “huge challenges” in its trade relationship with China, which requires engagement in the Biden administration. He has asked Congress for new trade law tools to counter massive Chinese state subsidies for high-technology sectors.

The Biden administration has sought to rally US allies to join Washington in confronting abusive trade policies by Beijing. US and EU officials met in Pittsburgh on Wednesday (here) to deepen transatlantic cooperation on technology regulation, protect sensitive technologies and address challenges posed by “non-market economies” – a reference to China .

Reporting by David Lauder; Editing by Edwina Gibbs

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