CHINA's unfair trading practices have not yet been tackled, US Trade Representative Katherine Tai told the Centre for Strategic and International Studies last week, reports Kansas City's Meat + Poultry.
'For too long, China's lack of adherence to global trading norms has undercut the prosperity of Americans and others around the world,' Ms Tai said.
'In recent years, Beijing has doubled down on its state-centred economic system. It is increasingly clear that China's plans do not include meaningful reforms to address the concerns that have been shared by the United States and many other countries,' she said.
But Ms Tai said the key to US global competitiveness begins at home.
'We must invest in research and development and clean energy technology, strengthen our manufacturing base, and incentivize companies to Buy American up and down the supply chain,' she said.
As what to do about China's objectionable behaviour, she said: 'First, we will discuss with China its performance under the phase one agreement,' Ms Tai said. 'China made commitments that benefit certain American industries, including agriculture that we must enforce.'
Second, the administration will begin a targeted tariff exclusion process.
'We will ensure that the existing enforcement structure optimally serves our economic interests,' she said. 'We will keep open the potential for additional exclusion processes, as warranted.'
'Third, we continue to have serious concerns with China's state-centred and non-market trade practices that were not addressed in the phase one deal,' Ms Tai said. 'As we work to enforce the terms of phase one, we will raise these broader policy concerns with Beijing.'
A 'Phase 1' trade deal was signed in January last year, the publicly traded barbs between the two countries are fewer and blunter, and on the face of it,
President Joe biden is more conciliatory on the global stage than was former President Donald Trump.
Reuters says the Biden administration is leaving most of former US President Donald Trump's tariffs in place, and holding the line against China in other key areas, as 'China's property crisis slows the economy in a way that may have weakened Beijing's hand'.
The Biden administration unveiled Washington's long-awaited policy review of trade with China. It comes at a delicate juncture for financial markets as investors grapple with rising inflation and reprice interest rate risk.
As economists at JPMorgan note, any perceived upside risk for markets under Biden on China is quickly evaporating, and US-China trade is now a 'two-side wild card'.
SeaNews Turkey
'For too long, China's lack of adherence to global trading norms has undercut the prosperity of Americans and others around the world,' Ms Tai said.
'In recent years, Beijing has doubled down on its state-centred economic system. It is increasingly clear that China's plans do not include meaningful reforms to address the concerns that have been shared by the United States and many other countries,' she said.
But Ms Tai said the key to US global competitiveness begins at home.
'We must invest in research and development and clean energy technology, strengthen our manufacturing base, and incentivize companies to Buy American up and down the supply chain,' she said.
As what to do about China's objectionable behaviour, she said: 'First, we will discuss with China its performance under the phase one agreement,' Ms Tai said. 'China made commitments that benefit certain American industries, including agriculture that we must enforce.'
Second, the administration will begin a targeted tariff exclusion process.
'We will ensure that the existing enforcement structure optimally serves our economic interests,' she said. 'We will keep open the potential for additional exclusion processes, as warranted.'
'Third, we continue to have serious concerns with China's state-centred and non-market trade practices that were not addressed in the phase one deal,' Ms Tai said. 'As we work to enforce the terms of phase one, we will raise these broader policy concerns with Beijing.'
A 'Phase 1' trade deal was signed in January last year, the publicly traded barbs between the two countries are fewer and blunter, and on the face of it,
President Joe biden is more conciliatory on the global stage than was former President Donald Trump.
Reuters says the Biden administration is leaving most of former US President Donald Trump's tariffs in place, and holding the line against China in other key areas, as 'China's property crisis slows the economy in a way that may have weakened Beijing's hand'.
The Biden administration unveiled Washington's long-awaited policy review of trade with China. It comes at a delicate juncture for financial markets as investors grapple with rising inflation and reprice interest rate risk.
As economists at JPMorgan note, any perceived upside risk for markets under Biden on China is quickly evaporating, and US-China trade is now a 'two-side wild card'.
SeaNews Turkey