Thursday, October 28, 2021

US, China chief trade negotiators hold ‘candid exchange’

Tai underscored US concerns “relating to China’s state-led, non-market policies and practices that harm American workers, farmers and businesses,” the USTR said.

The Biden administration says China’s massive state subsidies for national companies, intellectual property theft and other factors create a heavily uneven playing field in trade.

Trump imposed tariffs on Chinese products worth US$370 billion in 2018, citing trade practices Washington deemed “unfair.”

But many US companies have criticised the levies, saying they drive up costs, since importers bear their brunt.

Biden, who took office in January, asked Tai to conduct a comprehensive review of US trade strategy towards China and the tariffs initiated by Trump.

This week, Tai announced the launch of “a targeted tariff exclusion process”.

More than a goodwill gesture to Beijing, she explained that it was a matter of granting “case-by-case” exemptions for US companies that do not have an alternative source of supply to China.

The USTR said it would take public comments regarding exclusions from its tariffs on China.

The public comment period runs from Oct 12 through Dec 1, and USTR said it would weigh the exclusion’s impact on factors including employment, supply chains and its overall policies towards China.

On Friday, Tai reiterated Biden’s goal of pursuing a policy that best serves US interests.

This article originally appeared on the CNA
Source link Author on date 2021-10-09 12:52:10

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