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US trade chief Katharine Tai to unveil Biden's China trade strategy on 4 October

01 October 2021

US Trade Representative (USTR) Katherine Tai will unveil the Biden administration's long-awaited strategy for the troubled US-China trade relationship in a speech on Monday at a Washington think tank, her office said.

Reuters reports that Tai will deliver remarks on her review of China trade policy at the Center for Strategic Studies in Washington and participate in a question-and-answer session.

Since taking office in March, Tai has been conducting a top-to-bottom review of Washington's China trade policy.

US Joe Biden has kept in place tariffs on hundreds of billions of dollars of Chinese imports imposed by former president Donald Trump, but his administration has so far revealed little about how it will address what it calls China's non-market trade and subsidy practices.

Tai's remarks at 10 am EDT (1400 GMT) on Monday will mark the start of the final three months of the "Phase 1" US-China trade deal struck that Trump struck with Beijing at the start of 2019, easing a tariff war between the world's two largest economies. It called for China to boost purchases of US farm and manufactured goods, energy and services by $200 billion over the two years to the end of 2021 compared to 2017 levels.

Biden administration officials say China has not met its Phase 1 trade deal commitments and they intend to hold it to its international trade commitments.

Chad Bown, a senior fellow at the Peterson Institute for International Economics in Washington, estimates that China's purchases of US exports through August are running at about 62% of the Phase 1 targets, based on US export data.

Tensions between the two economic powers has also grown as the United States has restricted Chinese companies' access to US sensitive technologies.

Read more about this story here.

Source: Reuters



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