Translated by: MOS Translation Team – Laniakea
The Zero Hedge reported that on the morning of October 4, U.S. Trade Representative Katherine Tai delivered a speech outlining the Biden administration’s strategy on the impasse in the U.S.- China trade relationship.
As Tai explained, the success of Communist China is at the expense of the United States and other economies around the world, as the Chinese Communist Party has destroyed productivity and reduced job positions in the U.S. steel industry, as well as affecting other industries —- from the semiconductor industry to even agriculture. She admitted that the Biden administration’s current strategy for the U.S.-China trade relationship has inherited the structure and framework developed by the previous Trump administration, but with the goal of “not inflaming trade tensions with Communist China.”
The “Phase I” U.S.-China trade agreement reached in early 2019 by the Trump administration requested Communist China to increase its procurements of U.S. agricultural and manufactured goods, energy, and services by $200 billion over 2017 levels by the end of 2021. As Communist China has not met its commitments made in the “Phase I” trade agreement, Tai stated an intention to conduct online meetings with Chinese trade representatives regarding the implementation of the trade agreement. Tai did not confirm whether to launch a Section 301 investigation into whether China has violated the “Phase I Agreement.”
Currently, the Biden administration has no plans to negotiate a “Phase II” trade agreement.
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Source: https://www.zerohedge.com/political/watch-live-top-biden-official-lays-out-china-strategy-long-awaited-remarks https://www.zerohedge.com/economics/us-trade-chief-give-major-speech-monday-belatedly-unveiling-bidens-china-trade-strategy
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