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The Biden administration should take a more multilateral approach to trade policy, New Democrat Coalition Chair Rep. Suzan DelBene (D-WA) tells Inside U.S. Trade, singling out digital rules, its approach to China and efforts to curb steel and aluminum overcapacity.
The New York Stock Exchange has twice reversed course in the past week over whether to remove three Chinese telecommunications as it tries to comply with a Nov. 12 executive order banning transactions with companies deemed to be affiliated with the Chinese military, illustrating the confusion surrounding how U.S. businesses can ensure they are in compliance, according to trade lawyers.
“I very much doubt that the growth rate of China would depend on what the U.S. does,” said the director of the Centre for European Policy Studies.
The agreement in principle the European Union and China announced in the closing days of 2020 is a substantial diplomatic victory for Beijing as it prepares to deal with an incoming Biden administration that has vowed to rally allies – like the EU – to pressure China to curb its most egregious practices.
President Trump on Tuesday signed an executive order that will ban transactions made with eight Chinese applications, including WeChat Pay, Alipay and Tencent QQ, saying they pose a national security threat because they can be used to collect private user data in bulk.
The fiscal year 2021 National Defense Authorization Act -- passed last week -- is laden with provisions designed to bolster the U.S. supply chains for rare earth elements and assess whether to bar imports of such materials from foreign adversaries.
The European Union should not enter into an investment agreement with China without first working with President-elect Biden and the 117th Congress to combat Beijing’s trade practices, Sens. Pat Toomey (R-PA) and Mark Warner (D-VA) said in a statement on Monday.
The Biden administration will need time to consult with allies on a strategy to address egregious Chinese trade practices before it can decide on the fate of the tariffs imposed by the Trump administration, the president-elect's national security adviser, Jake Sullivan, said on Sunday.
When President-elect Joe Biden takes office in mid-January, a new dynamic inevitably will emerge in the U.S.-China relationship. The question is: Will it resemble the reset called for by some prominent Chinese officials, a more adversarial approach suggested by Biden during the campaign, or a mix of competitive and collaborative strategies?
The extensions are set to last through March.
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.
Through November, China had purchased just 67 percent of its 2020 agricultural commitments, according to the tracker.
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.”