UPDATE FEBRUARY 16, 2022:
WASHINGTON (AP) — The United States has accused China of failing to meet its commitments to the World Trade Organization. It says will explore new ways to combat aggressive Chinese trade practices. In its annual report on Chinese compliance with WTO rules Wednesday (Feb. 16, 2022), the Office of the U.S. Trade Representative says China isn’t keeping the promises it made to open its markets to foreign competition when it joined the 164-country Geneva-based agency in 2001. Among other things, the United States repeated longstanding accusations that China uses subsidies and regulations to favor its own companies at the expense of foreign competitors.
FEBRUARY 14, 2022:
The Biden administration is looking at the possibility of new tariffs on China if they can’t persuade Beijing to live up to its failed commitments under the Phase One trade deal.
Reuters says the administration is looking at other possibilities, including a closer working relationship with allies to present a united front against China. Myron Brilliant, the U.S. Chamber of Commerce’s head of international affairs, says the goal would be to find ways to level the playing field for international firms that deal with China. U.S. trade data shows that China came up well short of its required purchases under the phase one deal, meeting only 60 percent of its total purchasing goals.
China’s Commerce Ministry says the U.S. should “cancel tariffs on China to create a favorable environment for trade.” Brilliant says the Chamber supports talks with China but also says there are vehicles the administration can use to take action.
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