The Biden administration has also considered other options, including working more closely with Europe and other allies to form a united front once morest Beijing, requiring it to provide a more level playing field for international companies, Archyde.com quoted Myron as saying.
Data reveals that China’s purchase volume is less than 60% of the target
According to U.S. trade data released on Tuesday, China has achieved less than 60 percent of its purchases pledged in the trade deal, missing its pledge to increase purchases by $200 billion over two years from 2017 levels. The Wall Street Journal quoted the U.S. Commerce Department as saying that the U.S. trade deficit with China increased by 14.5% last year to $355.3 billion, but it was still lower than the previous record of $418.2 billion in 2018. Jeff Ferry, chief economist for the Coalition for a Prosperous America, a U.S. trade lobby group, believes that the U.S. still relies on China and other countries for supplies.
Myron said the U.S. Chamber of Commerce supports the administration in holding talks with Chinese officials, “but if these negotiations are not successful in getting China to implement the terms of the agreement, then I do think the administration might consider tools for further action,” he said. The administration is considering a range of options, none of which we support at this time, and options might include Section 301 action and similar actions.” Tariffs on Chinese goods to the U.S.
Ministry of Foreign Affairs: Threats and pressure to undermine mutual trust
CCTV reported that Zhao Lijian, a spokesman for the Ministry of Foreign Affairs, said yesterday that China has always advocated that the two sides should properly resolve issues in the economic and trade relations between the two countries in the spirit of mutual respect and equal consultation. The atmosphere of dialogue and negotiation”. Gao Feng, a spokesman for the Chinese Ministry of Commerce, also said at a regular press conference that since the first phase of the China-US agreement came into effect, China has worked hard to overcome unfavorable factors such as the impact of the epidemic, the global economic recession, and supply chain disruptions, and has promoted the joint implementation of the agreement. “I hope the U.S. side will cancel the imposition of tariffs, sanctions and suppression measures once morest China as soon as possible, so as to create a favorable atmosphere and conditions for the expansion of trade cooperation between the two sides.”
Experts: Raising tariffs might make trade agreement futile
Zheng Anguang, an associate professor at the Institute of International Relations at Nanjing University, believes that Bo Myron’s threatening remarks will have a negative impact on Sino-US negotiations. The Russian Satellite News Agency quoted Zheng Anguang as saying that if the Biden administration really uses this as an excuse to impose additional tariffs to “punish” China, the results of the first phase of Sino-US negotiations may come to nothing, and the next phase of negotiations will also come to nothing. Zheng Anguang said: “The newly imposed tariffs are bound to be imposed on American companies and consumers, adding to the inflation in the United States that has already afflicted the Biden administration, seriously affecting the lives of ordinary people in the United States and the post-epidemic economic recovery.”
The U.S. inflation rate exceeded expectations in January. Data released by the U.S. Department of Labor on Thursday (10th) showed that the consumer price index (CPI) in January rose by 7.5% year-on-year, higher than 7% in December last year, and the year-on-year increase reached 40 years. highest level.
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