Asia

Several industry groups on Tuesday urged the Office of the U.S. Trade Representative not to impose tariffs on Vietnam in response to alleged currency undervaluation, arguing the rising U.S. trade deficit with Vietnam is the result of Section 301 tariffs on China and warning that new tariffs would harm U.S. interests and consumers.

The Trump administration is hindering efforts to ensure a smooth transition of power, President-elect Joe Biden said on Monday, citing briefings from transition officials about the “critical early investment” needed to ensure the U.S. can rebuild alliances to take on key threats – including China. 

Sen. Toomey: “The incoming Biden administration should make a trade agreement with Taiwan a priority.”

Chinese authorities on Saturday issued regulations setting up a mechanism to review foreign investments for national security implications that would allow authorities to reject or limit practically any foreign investments in China.

The House is set to vote on whether to override the veto on Dec. 28.

The omnibus spending and coronavirus relief package Congress passed this week includes requirements for a variety of agencies to issue reports assessing whether China exploited the pandemic to advance its economic and political goals and if partner countries have sufficient export control regimes.

The Biden administration would welcome “early consultations” with the European Union on ways to address mutual concerns about Beijing’s economic practices, Jake Sullivan, President-elect Joe Biden’s pick for national security adviser, said on Monday.