No end to US trade war with China, Biden administration pledges in policy document
- Report accuses China of maintaining a non-market economy that it seeks to use as leverage to distort competitive markets and concentrate supply chains
- ‘We are also considering all existing tools – and will seek new ones as needed,’ it says
US President Joe Biden’s administration issued a policy document on Friday that pledged to double down with a strategy of realignment on trade with China, a sign that tension between the world’s two largest economies shows no signs of abating.
The 2024 Trade Policy Agenda and 2023 Annual Report to Congress released by the office of US Trade Representative Katherine Tai, sought continued action against “harms wrought” by what it called Beijing’s “trade and economic abuses”.
“We are also considering all existing tools – and will seek new ones as needed,” the report said, contending that actions so far had allowed the US to “engage and compete” with Beijing “from a position of strength”.
The US accuses China of maintaining a non-market economy that it seeks to use as leverage to distort competitive markets and concentrate supply chains under its control through massive state subsidies.
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