- USTR Tai: We will start a targeted tariff-exclusion process
Market news
4 October 2021
USTR Tai: We will start a targeted tariff-exclusion process
- Our primary focus will be on building resilience and competitiveness - including with our allies and partners - on diversifying markets, and limiting impact of Beijing’s harmful practices
- It’s important that China live up to commitments and promises it’s made under phase one trade deal
- President Biden is going to hold China to account where China is falling short of its commitments
- President Biden believes that we have to use all our tools to make sure China’s economic and trade policies do not hurt American workers and businesses
- At USTR, we are taking some specific actions to begin to realign our trade policies towards China:
- First, we will revisit phase one agreement and emphasize that China must follow through on the commitments it has made;
- Second, we will start a targeted tariff-exclusion process. We will also keep open potential for additional exclusion processes in the future
- Third, in the coming days, Ambassador Tai will resume direct engagement with her counterpart in China;
- And finally, we will work with our allies and like-minded partners towards building international trading system that is fair and allows for healthy competition;
- I want to make a couple of points very clear as we turn to our next steps in our trade relationship with China:
- First, our objective is not to escalate trade tensions with China or double down on the previous administration’s flawed strategy;
- Second, at the same time, where China continues to pursue its unfair and coercive practices, we will use the full range of our tools to help ensure that U.S.-China trade relationship works for American workers, our industries, and our supply chain;
- And third, while we would welcome China changing the practices that do harm to American firms and workers, we recognize that China simply may not change and that we have to have strategy that deals with China as it is, rather than as we might wish it to be
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