October 18, 2021
Taking Stock of the New U.S. Trade Policy on China
The Biden administration has unveiled its long-awaited strategy for U.S.-China trade policy in a major speech delivered on Oct. 4 by U.S. Trade Representative (USTR) Katherine Tai. Though short on details, Tai’s remarks provided the outline of an overarching strategy to manage China’s “zero-sum” approach to global trade. She affirmed the administration’s broader trade priorities of negotiating from a position of strength—which necessitates substantial investments in the domestic economy—and ensuring that U.S. trade policy reinforces the well-being of workers and the resiliency of critical supply chains.
Though short on details, Tai’s remarks provided the outline of an overarching strategy to manage China’s “zero-sum” approach to global trade.
In this context, the Biden administration’s China trade policy strategy is intended to realign the economic relationship away from U.S. dependency on China and toward an equilibrium where trade is balanced and beneficial to U.S. interests. As outlined in the Oct. 4 speech, core elements of the administration’s strategy will include enforcement of China’s existing trade obligations, including in the U.S.-China Economic and Trade Agreement or “phase one” agreement; direct talks with China on issues beyond the scope of the phase one agreement; closer coordination with allies; and new policy tools to address gaps in existing trade and investment rules.
Read the full article from Lawfare.
More from CNAS
-
Happy Summer from Derisky Business!
While Derisky Business goes on summer break, revisit your favorite episodes of the podcast and dive into the Summer Reading List, featuring book recommendations from previous ...
By Emily Kilcrease & Geoffrey Gertz
-
The Derisky Business Reading List
While Derisky Business goes on summer break, revisit your favorite episodes of the podcast and dive into the Summer Reading List, featuring book recommendations from previous ...
-
Transatlantic Security / Energy, Economics & Security
From Russia with RiskHere on the Bear Market Brief, a lot of what we focus on is, simply put, risk: what might happen, and what might it mean? On this episode, Rachel Ziemba, an adjunct senior fel...
By Rachel Ziemba
-
Richard Nephew on the U.S. military strikes on Iran’s nuclear program
Richard Nephew, expert on sanctions and Iran’s nuclear program, joins Emily and Geoff to discuss the long history of U.S. policy towards Iran, the role of sanctions in constra...
By Emily Kilcrease & Geoffrey Gertz