January 17, 2022

The Pulse

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Trade negotiations between China and the United States – E24

Trade ambassadors from China and the United States have held the first talks since Joe Biden became president.

U.S. Trade Representative Katherine C. Yesterday, during an inquiry into the Senate Finance Committee earlier this month, Joe Biden held his first trade talks with China since becoming president.

Pool via Susan Walsh / AP / NTB

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The talks were open and practical and were held by telephone, China’s Ministry of Commerce said on Thursday.

Chinese Deputy Prime Minister Liu and US Trade Ambassador Katherine Tai had a constructive dialogue marked by equality and mutual respect, according to a report from Beijing.

In a brief statement, the US delegation briefed Biden and Vice President Kamala Harris on trade issues and raised questions with the United States about China’s part of the agreement.

Imports increased

In January 2020, the countries signed the countries described as the first phase of the trade agreement. This agreement caused a certain ceasefire in the protracted trade war between the countries.

China has promised to increase imports of US goods by $ 200 billion compared to 2017. The United States will not waive any tariffs on China.

Prior to the talks, Katherine Tai said she was investigating whether China had complied with part of the agreement. It is reported that China is up to 40 percent far from reaching the target of increased imports.

Since August

This is the first meeting between the negotiators since August last year, the first since Biden took office. The tone between the countries was tough during Donald Trump’s presidency.

Biden’s government has not changed its harsh trade rhetoric. They stressed that they have to keep charges while accelerating the US economy.

China, for its part, maintains tariffs on certain imports from the United States.

China was the first major country to contain the corona virus outbreak within its own borders. This led to an increase in economic activity in the country. Worldwide sales of Chinese-made products have increased.

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