U.S. businessmen look forward to a new approach to global trade after four years of opposition to Donald Trump has a question for the Biden regime: how will its money be spent in China?
China-China ties, which are a major contributor to the US, have been Donald Trump’s trade policy. He taxed Chinese currency including clothing, shoes and food, frustrated business groups that accepted his lower taxes and lighter laws.
Under Joe Biden many taxes remained, however, and some American business groups are worried.
“We have five months to go before the new government and we are not sure what China’s trade policy is,” said Jon Gold, vice president of the National Retail Federation. “This has a huge impact on companies, many of whom are struggling to survive through Covid and have more paid assets.”
While Biden worked with his allies to confront China, all of his points in Beijing are closer to Trump’s path than experts expect. Meanwhile, the price of US prices for companies buying from China has gone up. The machines that allow businesses to register for a rebate on the so-called Section 301 Chinese payment tariffs expired at the end of last year and have not been refunded.
More than 3,500 U.S. companies including Coca-Cola, Disney and Ford, as well as small American manufacturers, have filed a lawsuit against Trump officials over his taxes in China, citing numerous cases filed in the U.S. Court of International Trade, in New York. Meetings are scheduled for this year.
“Taxes are unpopular with American consumers and high-value businesses,” said Doug Barry, a spokesman for the US-China Business Council, a retail agency. “Most trees remain in place without knowing when or when they will be raised.”
Biden officials have so far dismissed questions on the prices, saying it is doing “top-to-bottom analysis” Chinese trade policy. The White House has shown that tackling coercion, promoting workers’ rights and protecting the environment are among the most important aspects of trade.
Politically, rushing to remove taxes could be in jeopardy before the 2022 general election, when any soft signal in China could weaken Democrats on the ballot box.
The pressure on China’s trade policy falls on Katherine Tai, a US trade representative. Biden’s chief marketing officer immediately began inviting foreign allies after joining the White House in March, but did not talk to China until last week.
U.S. lawmakers have repeatedly asked Tai about Chinese taxes, citing the deterioration of their industries. Filmmakers have tried to revive the practice of extortion and allow some Chinese to escape punishment.
Some Chinese imports are abolished as Trump strikespart 1Trade, as Beijing has pledged to buy $ 200bn of more goods and services from the US over the next two years in 2021. Biden officials have so far said little about their views on China’s compliance with the deal and did not say whether they plan to start “phase 2” negotiations.
“The USTR has not ruled in favor of China’s exhibitors in detail,” said Scott Kennedy, a Chinese specialist at the Center for Strategic and International Study in Washington. “This should be tested on a regular basis. . . We had to feel like China should still be loved. ”
In his remarks, Tai said his goal was to promote “trade ideas among workers”. Authorities have recently taken action against a Chinese fishing team that allegedly uses force to control its ships, blocking tuna and swordfish fish from the company.
“Within the supervisors, they appear to have made more progress in their negotiations on human rights and human rights in the workplace than they do in economic and commercial matters,” said a former U.S. government correspondent.
“There is a perception that these experts do not know what to do with China – that in all their frustrations with Trump, he has not come to terms with other ideologies other than spending a lot of money on other countries to increase competition and is now just trying to buy time and constant monitoring of education and training,” he said. the man.
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