The trade relationship between the two largest economies in the world has a “significant imbalance” and the Biden administration is committed to levelling it, according to the US trade representative Katherine Tai.
“There are parts of this trade relationship that are unhealthy and have over time been damaging in some very important ways to the US economy,” Tai said on Saturday in response to a question about whether the United States would continue with a trade deal signed with China in January 2020 and maintain tariffs on Chinese goods.
“It’s a relationship in trade that has been marked by significant imbalance – that is in terms of performance, but also in terms of opportunity and openness of our markets to each other,” she said ahead of a virtual meeting of trade ministers from members of the Asia-Pacific Economic Cooperation forum. “The United States is committed to doing everything we can to bring balance back to the US-China trade relationship.”
The comments come as the two nations seem to be increasing their economic discussions, with Chinese Vice-Premier Liu He speaking to both Tai and
over the past two weeks.While China said that those talks showed the two sides had restarted normal communications, there has been no public sign of any progress on the bilateral tariffs or of discussions over other economic flashpoints between the nations.
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June 06, 2021 at 11:29AM
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US wants to correct China trade ‘imbalances’, says Tai - South China Morning Post
"correct" - Google News
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