US Trade Director Thailand Announces Biden’s China Business Strategy on Monday

Texas News Today

FILE PHOTO: US Trade Representative Catherine Tai testifies before the Senate Expenditure Commission at a hearing on Capitol Hill on April 28, 2021 in Washington, DC. Reuters / File photo / File photo via Sarah Silbiger / Pool

October 1, 2021

David Loader

WASHINGTON (Reuters) – US Trade Representative Catherine Tai revealed the Biden administration’s long-awaited strategy for troubled US-China trade relations in a speech at a Washington think tank, her office said. ..

Thailand will participate in a question-and-answer session while speaking about a review of China’s trade policy at the Center for Strategic and International Studies in Washington, the USTR said in a statement on Thursday.

Since taking office in March, Thailand has conducted a thorough review of Washington’s China trade policy.

US Joe Biden has imposed tariffs by former President Donald Trump on hundreds of billions of dollars of imports from China, but his administration has so far stuck with China’s non-market trade. Little is known about how to deal with what are called subsidy practices.

Thailand’s remarks on Monday at 10 a.m. EDT (1400 GMT) mark the start of the final three months of Trump’s “Phase 1” US-China trade deal with Beijing in early 2019, two of the world’s largest Huh. One of the largest economies. China called for an increase in US agricultural and industrial product, energy and service purchases by $200 billion over two years to the end of 2021 compared to 2017 levels.

Biden administration officials say China has not delivered on its Phase I trade deal promises and intends to keep its international trade promises.

Chad Bown, a senior researcher at the Peterson Institute for International Economics in Washington, said as of August China’s purchases of US exports were at about 62% of the Phase I target based on US export data. I think there is.

Tensions between the two economies are also rising as the United States restricts Chinese companies’ access to American classified technologies.

Thailand said the United States faces “a great challenge” in its trade relationship with China and requires the participation of the entire Biden administration. He called on Congress for a new trade law tool to counter China’s massive state subsidies in the tech sector.

The Biden administration has sought to mobilize US allies to join Washington in the face of Beijing’s alleged abusive trade policy. US and EU officials met in Pittsburgh on Wednesday to deepen transatlantic cooperation on technology regulation, protect sensitive technologies and address challenges posed by a “non-market economy” (a reference to China). ..

(Reporting by David Lauder; Edited by Edwina Gibbs)

US Trade Director Thailand Announces Biden’s China Business Strategy on Monday

Source Link US Director of Trade Thailand Announces Biden’s China Business Strategy on Monday

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