US reports no thaw in trade relations with China

The Biden administration could face an even more difficult task in securing a trade deal with China than the Trump administration did fou...

The Biden administration could face an even more difficult task in securing a trade deal with China than the Trump administration did four years ago. Republican lawmakers are prepared to pounce on any perceived weaknesses in China by Mr Biden, and diplomatic and economic relations between the two countries have deteriorated.

“Against the backdrop of global opposition to the Cold War and division, the United States blatantly violated its policy statement not to seek a new cold war and banded together to form an Anglo-Saxon clique.” , Wang Yi, Chinese Foreign Minister, said on September 28 in response to Australian Submarine Agreement.

United States release of Meng Wanzhou, a Huawei executive who had been detained in Canada at the request of the United States, and the subsequent release by China of two canadians and two americans, did not do much to calm the tensions.

Mr Trump’s tariffs have discouraged imports of some Chinese goods, but exports to the United States have risen sharply thanks to the coronavirus pandemic, as Americans bought training equipment, furniture, toys and equipment. ‘other products during the lockout.

Chinese leaders have also doubled down on the kinds of domestic industrial subsidies that the United States has long opposed. They have dramatically expanded programs, launched more than a decade ago, to eliminate their need to purchase computer chips and airliners – two of the United States’ top exports to China – among other products. industrial.

The Biden administration has explored ways to persuade China to limit its large industrial subsidies, but it will be difficult. The George W. Bush, Obama, and Trump administrations have all tried with little success to find ways to get China to abandon its long-standing use of domestic producer subsidies as a tool to wean itself off dependence on imports.

Chinese leader Xi Jinping called for making sure other countries remain dependent on China for key products, so they don’t threaten to stop their own sales to China. The United States has done so on issues such as surveillance, forced labor, and crackdown on democracy advocates in Hong Kong.

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Newsrust - US Top News: US reports no thaw in trade relations with China
US reports no thaw in trade relations with China
Newsrust - US Top News
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