US President Joe Biden's administration has yet to establish a trade policy with china seven months since taking office, reports CNBC News.
According to a readout of a virtual meeting with two business associations, the us Chamber China Centre Advisory Board and the US-China Business Council, Trade Representative Katherine Tai said: 'Biden-Harris Administration and USTR are conducting a comprehensive review of US-China trade policy.'
She acknowledged the significance of the US-China trade relationship, and said the US remains committed to 'addressing China's unfair trade policies and non-market practices that undermine American businesses and workers,' the readout said.
Michael Hirson, practice head for China and Northeast Asia at consulting firm Eurasia Group, has pointed out that Mr Biden was able to persuade major G-7 countries to make strong statements against China.
However, Biden has 'not yet articulated a trade strategy or another approach that would really be effective in countering China's economic strength,' Mr Hirson said.
Trade tensions between the world's two largest economies escalated under former President Donald Trump. A dispute that began with tariffs on billions of dollars' worth of goods from both sides has since spilled over into technology and finance.
American companies and other foreign businesses have had longstanding complaints about unequal access to the Chinese market, lack of intellectual property protection and forced technology transfer.
China's Ministry of Commerce said last week the two countries remained in 'normal communication' regarding trade, according to a CNBC translation.
Trade between the US and China has grown despite the political tensions. China's exports to the US for the first seven months of the year rose 36.9 per cent compared to the same period in 2020, while imports climbed 50.4 per cent year on year in the January to July period, according to customs data accessed through Wind Information.
China's trade surplus with the US rose further in July to US$35.42 billion, despite Mr Trump's efforts to reduce that surplus.
SeaNews Turkey
According to a readout of a virtual meeting with two business associations, the us Chamber China Centre Advisory Board and the US-China Business Council, Trade Representative Katherine Tai said: 'Biden-Harris Administration and USTR are conducting a comprehensive review of US-China trade policy.'
She acknowledged the significance of the US-China trade relationship, and said the US remains committed to 'addressing China's unfair trade policies and non-market practices that undermine American businesses and workers,' the readout said.
Michael Hirson, practice head for China and Northeast Asia at consulting firm Eurasia Group, has pointed out that Mr Biden was able to persuade major G-7 countries to make strong statements against China.
However, Biden has 'not yet articulated a trade strategy or another approach that would really be effective in countering China's economic strength,' Mr Hirson said.
Trade tensions between the world's two largest economies escalated under former President Donald Trump. A dispute that began with tariffs on billions of dollars' worth of goods from both sides has since spilled over into technology and finance.
American companies and other foreign businesses have had longstanding complaints about unequal access to the Chinese market, lack of intellectual property protection and forced technology transfer.
China's Ministry of Commerce said last week the two countries remained in 'normal communication' regarding trade, according to a CNBC translation.
Trade between the US and China has grown despite the political tensions. China's exports to the US for the first seven months of the year rose 36.9 per cent compared to the same period in 2020, while imports climbed 50.4 per cent year on year in the January to July period, according to customs data accessed through Wind Information.
China's trade surplus with the US rose further in July to US$35.42 billion, despite Mr Trump's efforts to reduce that surplus.
SeaNews Turkey