After Joe Biden election win, China will seek to renegotiate trade deal, Beijing advisers say
- Donald Trump’s phase one trade deal seen as ‘twisted’ in Beijing, leading insiders to predict an attempt at renegotiation under Joe Biden
- But US trade experts say it is unlikely Biden can do anything that could be construed as being soft on China
Joe Biden’s US election victory will encourage China to try and renegotiate Donald Trump’s trade deal, viewed in Beijing as being “twisted” in Washington’s favour, according to advisers to the Chinese government.
Shi Yinhong, an adviser to China’s State Council, effectively the country’s cabinet, said Beijing would see it as in its interests to reduce the heavy import targets and reduce tariffs on exports to the United States.
Biden will sooner or later launch a renegotiation of the trade deal, as the current deal is unrealistic
“Biden will sooner or later launch a renegotiation of the trade deal, as the current deal is unrealistic. A renegotiation is also in line with China’s wishes,” Shi said, adding that Beijing would expect Biden to seek more structural changes in any renegotiation.
“The incoming Biden administration will probably take a tougher stance on Hong Kong, Taiwan, Xinjiang, South China Sea, other human rights issues, and the alleged Chinese intelligence activities in the US,” he said.
In his first address as president-elect on Saturday, Biden indicated he would immediately reverse Trump’s decision to leave the Paris climate agreement and the World Health Organization, which could open the door for better cooperation with China, advisers said.