{"id":683,"date":"2021-05-28T15:48:58","date_gmt":"2021-05-28T12:48:58","guid":{"rendered":"https:\/\/dukva.org\/en\/?p=683"},"modified":"2021-05-28T15:48:59","modified_gmt":"2021-05-28T12:48:59","slug":"u-s-trade-chief-tai-says-u-s-faces-very-large-challenges-on-china","status":"publish","type":"post","link":"https:\/\/dukva.org\/en\/u-s-trade-chief-tai-says-u-s-faces-very-large-challenges-on-china\/","title":{"rendered":"U.S. TRADE CHIEF TAI SAYS U.S. FACES \u2018VERY LARGE CHALLENGES\u2019 ON CHINA"},"content":{"rendered":"\n

Reuters<\/a>. 27 May 2021<\/strong><\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Below is an article published by Reuters<\/a>. Photo:Reuters.<\/em><\/p>\n\n\n\n

U.S. Trade Representative Katherine Tai said on Wednesday that the United States still faces \u201cvery large challenges\u201d in its trade and economic relationship with China that require the Biden administration\u2019s attention across the board.<\/p>\n\n\n\n

Tai spoke with Reuters in an interview before her first virtual call with Chinese Vice Premier Liu He, a meeting in which she raised \u201cissues of concern,\u201d according to her office.<\/p>\n\n\n\n\n\n\n\n

\u201cDuring their candid exchange, Ambassador Tai discussed the guiding principles of the Biden-Harris administration\u2019s worker-centered trade policy and her ongoing review of the U.S.-China trade relationship, while also raising issues of concern,\u201d the USTR said.<\/p>\n\n\n\n

China\u2019s commerce ministry described the talks as \u201ca candid, pragmatic and constructive exchange\u201d.<\/p>\n\n\n\n

\u201cBoth sides view the development of bilateral trade as very important. (Both sides) exchanged views on issues of mutual concern and agreed to maintain communication.\u201d<\/p>\n\n\n\n

The meeting marked the first formal engagement between the trade chiefs of the world\u2019s two largest economies since U.S. President Joe Biden took office in January.<\/p>\n\n\n\n

It came at a time when Biden has sharply criticized China on human rights abuses and sought to rally his Group of Seven rich nation allies to form a united front on China. <\/p>\n\n\n\n

China\u2019s handling of the COVID-19 pandemic \u2013 which has now killed more than 3 million people worldwide \u2013 has also rankled the United States and its allies.<\/p>\n\n\n\n

Biden on Wednesday ordered aides to investigate rival theories held by U.S. intelligence agencies on the origin of the virus, including the possibility of a laboratory accident in China. China said it supported a \u2018thorough investigation\u2019 but warned the United States to avoid politicizing the issue.<\/p>\n\n\n\n

The Biden administration is conducting a comprehensive review of U.S.-China trade policy, ahead of the expiry of the Phase 1 deal at the end of 2021.<\/p>\n\n\n\n

Tai told Reuters the Phase 1 trade deal was important but only part of a complex relationship.<\/p>\n\n\n\n

\u201cThe overall challenges that we have with China are also still there and they are very large,\u201d Tai said.<\/p>\n\n\n\n

Tai said the Phase 1 trade deal should be seen in the context of \u201cthe overall U.S.-China trade, and economic relationship which is very, very challenging. And requires our attention all across the board.\u201d<\/p>\n\n\n\n

The two countries signed the trade deal in January 2020 \u2013 just before the COVID-19 pandemic began. It calls for China to increase purchases of U.S. agricultural goods, manufactured products, energy and services by $200 billion over 2020 and 2021, compared with a 2017 baseline.<\/p>\n\n\n\n

The deal eased a two-year tariff war between the United States and China waged by former President Donald Trump that aimed to change China\u2019s trade practices, although duties remain in place on hundreds of billions of dollars of trade.<\/p>\n\n\n\n

The Biden administration has promised a similarly muscular pushback on China\u2019s state-driven economic model, with new investments in innovation to maintain a U.S. technological edge.<\/p>\n\n\n\n

China fell about 40% short of its purchase targets in 2020, and is still lagging in its imports in 2021, with just seven months to go in the two-year deal.<\/p>\n\n\n\n

Through 2020, China\u2019s total imports of covered products from the United States were $99.9 billion, compared with the commitment of $173.1 billion, according to the Peterson Institute for International Economics.<\/p>\n\n\n\n

China also agreed to ease barriers in its financial services sector and agricultural biotechnology regulations, as well as to take steps to protect U.S. intellectual property.<\/p>\n\n\n\n

The deal failed to address fundamental U.S. concerns about technology transfer and massive subsidies for state-owned enterprises \u2013 issues that the Trump administration had said it would address in a second phase trade agreement.\u00a0<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Reuters. 27 May 2021 Below is an article published by Reuters. Photo:Reuters. U.S. Trade Representative Katherine Tai said on Wednesday that the United States still faces \u201cvery large challenges\u201d in its trade and economic relationship with China that require the Biden administration\u2019s<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/posts\/683"}],"collection":[{"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/comments?post=683"}],"version-history":[{"count":1,"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/posts\/683\/revisions"}],"predecessor-version":[{"id":684,"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/posts\/683\/revisions\/684"}],"wp:attachment":[{"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/media?parent=683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/categories?post=683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dukva.org\/en\/wp-json\/wp\/v2\/tags?post=683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}