US Fails to press China on Trade
THE US is continuing conversations with China despite China’s failure to abide by a Trump administration trade agreement, reports Bloomberg News.
As a result, the Biden administration reports little progress after months of talks on shortfalls in the phase-one trade agreement.
The White House plans to let the talks play out before the Biden team figures out the next steps on how to respond.
Trade data released by the US Commerce Department underscored that China did not meet its commitments, causing American officials to pledge to hold the country accountable.
“We will continue our necessary efforts to shape the environment around China by building resilience and competitiveness at home, diversifying markets, limiting the impact of Beijing’s harmful practices, working with allies and partners, and using the full range of tools we have to defend American economic interests,” said assistant US Trade Representative for media & public affairs Adam Hodge.