Home » Dai Qi: The first phase of the US-China trade agreement talks meets resistance | US Trade Representative | US-China Trade Negotiations | Biden

Dai Qi: The first phase of the US-China trade agreement talks meets resistance | US Trade Representative | US-China Trade Negotiations | Biden

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[Epoch Times November 11, 2021](Epoch Times reporter Chen Ting’s comprehensive report) U.S. Trade Representative Katherine Tai said on Wednesday (November 10) that the two sides will discuss how China implements the first phase of the trade agreement. The meeting encountered resistance, but as the discussion continued, she was unwilling to predict the outcome.

She also said that the United States is raising concerns with China that go beyond the purchase commitments under the trade agreement, including Beijing’s state-centered industrial subsidy policy.

Dai Qi told reporters in Washington that the Biden administration hopes that China will indeed abide by the two-year phase one trade agreement signed in January 2020, and will assess what China has not fulfilled, including the failure to purchase US commercial aircraft.

In the US-China “Phase One” trade agreement signed by former President Trump (Trump), Beijing pledged to purchase an additional US$200 billion in US agriculture at the level of 2017 within two years to the end of 2021. , Energy and manufacturing products to reduce trade inequality between the two countries.

Dai Qi said that the talks between the United States and China also touched on broader issues, including strong state-driven industrial policies that made it difficult for American companies to compete with them.

“We are proposing to China that we continue to pay attention to the impact of China’s extremely powerful and very effective industrial policy on our economic growth, competitiveness and ability to thrive,” said Dai Qi, “this is a bigger We strongly believe that negotiations must be conducted. This is not necessarily reflected in the first phase agreement.”

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According to Reuters, according to data compiled by Chad Bown, a trade economist at the Peterson Institute for International Economics, as of September 30, China had only reached the first-stage procurement target. 60%, far behind schedule.

The agreement also includes other commitments: strengthen the protection of American intellectual property rights, increase imports of American agricultural biotechnology products, and allow financial services to enter the Chinese market.

With the tightening of relations between the two major economies of the United States and China, Biden and Xi Jinping may hold a video conference as early as next week.

At present, the United States and China are divided on economic, military, and political issues, imposing billions of dollars in tariffs on each other’s goods. The United States is also worried that the Chinese Communist Party is trying to use the “military-civilian integration” strategy to use American technology to strengthen its military power.

Dai Qi said that this meeting should be helpful, and to enhance mutual understanding is conducive to complex relationships. But she said that leaders’ contacts are not necessary to promote trade discussions.

Dai Qi said: “I don’t want you (referring to reporters) to think that our talks with the Chinese Trade Representative have not made progress.”

“We are talking, we are negotiating. We don’t need the adults in the family to participate.” She was referring to Biden and Xi Jinping.

US consumer prices rose by 6.2% in October, the highest increase since 1990.

When a reporter asked whether the Biden administration would consider reducing tariffs on Chinese goods to reduce inflationary pressures in the United States, Dai Qi said that the government is “looking at the big picture.”

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She said that the United States is seeking the most advantageous position in the global economy and its relationship with China. The Office of the United States Trade Representative (USTR) regards Section 301, which imposes tariffs on Chinese goods, as a strategy.

The Biden administration has strengthened economic and trade relations in the Indo-Pacific region. Therefore, starting next week, Dai Qi will visit Japan, South Korea and India.

Editor in charge: Ye Ziwei#

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