Seven months after taking office, US President Joe Biden's administration has yet to establish a trade policy with China.
U.S. Trade Representative Katherine Tai said Tuesday the “Biden-Harris Administration and USTR are conducting a comprehensive review of U.S.-China trade policy,” according to a readout of a virtual meeting with two business associations, the U.S. Chamber China Center Advisory Board and the U.S.-China Business Council.
She admits the significance of the U.S.-China trade association and said the U.S. remains perpetrated to “addressing China’s unfair trade policies and non-market practices that undermine American businesses and workers,” the readout said.
According to Michael Hirson, practice head for China and Northeast Asia at consulting firm Eurasia Group, Biden persuaded major G-7 countries to issue strong statements condemning China. However, Biden has “not yet articulated a trading strategy or another approach that would really be effective in countering China’s economic strength,” Hirson said.
Under former President Donald Trump, trade tensions between the world's two largest economies grew. Tariffs on billions of dollars worth of goods from both sides sparked a dispute that has since spread into technology jobs and finance.
