Administration Considering New Tariffs on China Over Phase One Deal
The Biden administration is looking at the possibility of new tariffs on China if they can’t persuade Beijing to live up to its failed commitments under the Phase One trade deal. Reuters said the administration is looking at other possibilities, including a closer working relationship with allies to present a united front against China.
Myron Brilliant, the U.S. Chamber of Commerce’s head of international affairs, said the goal would be to find ways to level the playing field for international firms that deal with China.
U.S. trade data shows that China came up well short of its required purchases under Phase One, meeting only 60% of its total purchasing goals.
Meanwhile, China’s Commerce Ministry says the U.S. should “cancel tariffs on China to create a favorable environment for trade.”
Brilliant said the Chamber supports talks with China but also says there are vehicles the administration can use to take action.
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