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The United States plans to approach China on trade agreement deficiencies

The United States plans to approach China on trade agreement deficiencies

(Bloomberg) – In an effort to help U.S. workers and businesses, US officials say the Biden administration will in the coming days seek direct trade agreement promises with China and launch a new process to exempt certain products from US tariffs.

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U.S. Trade Representative Catherine Dai plans to speak soon with Chinese Deputy Prime Minister Liu Hei about what will be the first meeting under which former US President Donald Trump will highlight China’s shortcomings in the deal. Tai asks questions during the event Monday at the Center for Strategic and International Studies in Washington.

“I am committed to facing many challenges in this bilateral process to achieve significant results,” Toy said in excerpts from his speech. “But, above all, we must protect our economic interests as much as possible.”

While the Biden administration has not rejected any tools at the negotiating table with the Beijing government, a U.S. official noted that the United States does not want to escalate trade tensions. The official agreed that China should not change its practices, so the United States needs a strategy that takes this into account.

The mother’s speech will focus on the Biden administration’s approach to US-China trade relations and reflect several months of internal analysis and consultations on how to counter the Chinese government’s economic practices.

The two largest economies in the world share the largest bilateral trade relations, but they are at odds on economic, military and political fronts. Tension points include billions of dollars in tariffs on goods from both countries, US concerns about China using US technological know-how to strengthen its armed forces, forced labor charges in the Xinjiang region and conflict over government supply. Art telecommunications equipment for other countries.

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U.S. officials say the Beijing government has failed to deliver on the promises made in the first phase of the agreement reached in January 2020. Parts of the contract are expected to expire later this year. China lags far behind its purchasing targets, including pledging to buy $ 200 billion more in agriculture, energy and manufacturing products in the two years to the end of 2021 compared to 2017.

Government officials have declined to comment on a timetable that the White House wants to see significant improvement in China’s commitments before taking further action.

An official said any US action would depend on how China responds to the DAIN announcement and the demand for compliance with the agreement.

Tai and Liu will negotiate under the enforcement mechanism of the agreement and the US trade leader will also raise questions about China’s industrial policies affecting US workers and businesses.

Exemption process

The U.S. Trade Representative Office (USTR) will re-establish the exemption process for some products and will not rule out new exemptions in the future, an official said. It is not clear which products will be eligible for the exemption under the new process or when the application deadline will begin.

The business community and many lawmakers have asked the U.S. government for these fee waivers.

Much read from Bloomberg Business Week

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