U.S. Trade Representative Katherine Tai made a long-awaited statement on Monday outlining the Biden administration’s trade strategy with China, accusing Beijing of unfair trade practices and taking place under Trump-era trade. He said he would discuss holding it to explain his commitment.
Thailand Will talk At the Center for Strategic and International Studies (CSIS), at a Washington think tank at 10 am, ET, she is expected to say that Washington needs to enforce “Phase 1” conditions. Trade agreement Beijing has clashed with President Donald Trump, officials said.
One of the ways Trump responded to Beijing’s hostile trade policy and tried to reduce his deeply criticized US-China trade deficit was to buy another $ 200 billion in US goods and services in 2020. It was to negotiate a deal built around Beijing’s pledge to do. And 2021.
According to the Peterson Institute for International Economics (PIIE), Beijing, a nonpartisan research organization that tracks the status of Chinese purchases from the United States in connection with its commitment, Quite late To this pledge.
According to PIIE, China’s total import shortfall in 2020 was $ 73.2 billion, 58% of the target, but by August 2021, Beijing was expected to reach the end of the year, more than 30% below its purchase commitment.
With only four months left to buy under the Phase 1 trade agreement, China is moving more than 30% below the US products it promised to buy in 2021.
Details, data, methodology: https://t.co/mqXxrlyQPx pic.twitter.com/wUf5SHIgxa— Peterson Institute for International Economics (@PIIE) September 27, 2021
A senior government official said it was clear that the current state of US-China trade relations did not meet the needs of US workers, and Thailand said in a speech, “China’s unfair trade practices hurt workers and we Industry has given Beijing an unfair advantage in its global trading system. “
Thailand will note that Chinese leaders have failed to reform non-market policies and have failed to meet the various promises made in the last 15 years of talks with the United States, senior government officials said.
Thailand said Washington wasn’t trying to escalate trade tensions with Beijing, but the Biden administration said Chinese leaders would change the way they do business and the United States would ensure bilateral trade relations. I’m not sure to use “any tool” for. American workers, our industry, and our supply chain. “
The United States will focus on “Phase 1” involvement and will not pursue “Phase 2” negotiations with China on deeper structural issues such as large-scale subsidies to key industries that distort the global market. “The official said.
Thailand’s long-awaited speech follows a thorough review of Washington’s China trade policy.
President Joe Biden has continued to impose tariffs on hundreds of billions of dollars of Chinese imports imposed by Trump, but his administration has so far dealt with Beijing’s unfair and unmarketed trade practices. Little is revealed about how it aims to do.
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Tom Ozimek has a broad background in journalism, deposit insurance, marketing and communication, and adult education. The best writing advice he has ever heard is from Roy Peter Clarke.