US seeks to exert economic pressure on China

The US seeks to put economic pressure on China - Photo 1.

US Trade Representative Katherine Tai – Photo: REUTERS

On September 10, Bloomberg news reported that US Trade Representative Katherine Tai and US Commerce Secretary Gina Raimondo attended a meeting of Biden’s top economic advisers to discuss the investigation. .

They also discussed the trade deal reached with China under former president Donald Trump and measures to implement the agreement, as well as the direction ahead for import duties that Washington has imposed on some valuable goods. 300 billion dollars of Beijing.

Bloomberg’s source said Ms. Tai had requested an assessment of the damage from China’s subsidies to take appropriate countermeasures.

The meeting came just a day after Biden’s first phone call with Xi in more than seven months.

According to US officials, Mr. Biden wants to ensure relations between the world’s two largest economies do not fall into conflict and explain US intentions.

“Of course the economy was part of the conversation last night,” White House spokeswoman Jen Psaki said. Meanwhile, Chinese television reported that Xi told Biden that Washington’s policies made bilateral relations difficult.

Such an investigation could last several months and could lead to the imposition of taxes. However, some sources say the Biden administration is leaning towards reopening the waiver process for some types.

Some US officials say the tariffs imposed under Trump are losing their effectiveness in forcing Beijing to change its behavior or fulfill its commitments in the “Phase 1” trade deal reached in 2020.

Meanwhile, former US Trade Representative Robert Lighthizer said that Washington could impose investment restrictions on China.

It is not clear when the White House will announce the outcome of the meeting. According to Bloomberg, the Biden administration is still considering the damage to relations and the impact on US workers and farmers when it comes to trade behavior with China.

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