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While the outside world is concerned about how the newly assumed Biden administration will handle trade relations with the continent, White House spokeswoman Jen Psaki said on the 30th that the Biden administration is thoroughly reviewing all security policies. national under the Trump administration. A trade agreement “signed by the Trump administration and the continent in January 2020.
According to Reuters, as to whether the land trade agreement remains valid in the future, Shaqi said at the White House press conference that all previous government policies will be reviewed and reconsidered based on national security, and that the Biden administration will consider His strength. The relationship between the United States and mainland China, “this means that the United States will manage its future relations with mainland China, based on coordination and communication between the United States and its allies and partners.” But Shaqi did not explain the specific method further.
Former US President Trump and Chinese President Xi Jinping signed the first phase of a trade agreement in January 2020, temporarily slowing down the 18-month tariff retaliation battle between the two largest economies in the world. world. Under the US Land Trade Agreement, Beijing must purchase US $ 200 billion worth of US agricultural products, manufactured goods and energy services within two years based on 2017.
However, due to the impact of last year’s epidemic, the land side is far behind in acquisitions. Chad Bown, a senior fellow at the Peterson Institute for International Economics, a US think tank, said that as of December last year, mainland China had imported US $ 100 billion in products from the US and the target agreed was 173.1 billion. Dollar represents that in the implementation of the first year of the trade agreement, all the products purchased by the continent only reached 58% of the goal.
Additionally, US Treasury Secretary Janet Yellen said in a written response to a member’s question last week that she will comprehensively review the implementation of the “Phase 1 Trade Agreement” in mainland China and that Washington will work with allies to countering malicious trade in mainland China. behavior. However, the White House did not respond to whether the Biden administration began considering withdrawing from the land trade deal.
In response, a spokesman for the China-U.S. Business Council, a nonprofit organization, said it is reasonable for the Biden administration to review policies under the Trump administration, but unlikely to immediately cancel the trade deal. I don’t see any reason for this now. The continent still has 11 months to meet its commitment to purchase $ 200 billion in goods. “
(Zhongshi News Network)
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