When the previous U.S. administration launched a trade war once morest China for four years and the U.S. inflation rate was as high as 8.6%, a number of Western media quoted sources as saying on July 5 that the Biden administration will “reshape” the previous administration’s approach to China. tariff policy.
The new tariff policy may include 3 parts: 1. Cancel tariffs on US$10 billion of Chinese goods that are currently regarding US$370 billion in exports to the United States. 2. Initiate a new tariff exclusion program for China. 3. At the same time, according to Section 301 of the “US Trade Act”, a new tariff investigation was launched on some Chinese industries.
Comments from the US media believe that Biden, while lowering tariffs on some Chinese products, launched “tough measures once morest China”, “so that he will not be criticized by hawks in the United States because of his weakness toward China”, so as to keep before the mid-term elections. some votes. This kind of plan has the taste of “color and water”.
The US media bluntly stated that such a small tariff reduction will not have an immediate effect on alleviating high domestic inflation in the United States, nor does it expect to solve the main problems of US-China trade.
Wang Yi.Xinhua News Agency picture
Mainland “Global Times” interviewed Chinese experts, saying that the US’s approach is not conducive to the restoration of Sino-US economic and trade relations to normal as soon as possible. A year and a half since the Biden administration took office, the China policy has reached a critical juncture. China and the United States recently announced that, upon mutual agreement, Chinese State Councilor and Foreign Minister Wang Yi will meet with U.S. Secretary of State Blinken during the G20 Foreign Ministers’ Meeting to exchange views on current China-U.S. relations and major international and regional issues. Opinion. According to the schedule announced by the host Indonesia, the G20 Foreign Ministers’ Meeting will be held in Bali, Indonesia from July 7 to 8.
