On Thursday (Oct 28), US Trade Representative Katherine Tai stated that her involvement with China is aimed at lowering the temperature of a turbulent trading relationship with Beijing.
According to Tai, the US-China relationship feels kind of like a pile of dry tinder, and a misunderstanding is likely to spark simply a gigantic fire with really, really devastating ramifications for all everyone.
For months, the world’s two largest economies were involved in a tit-for-tat trade war. It all started when US President Donald Trump raised tariffs on Chinese goods entering the country.
Tai spoke with Chinese Vice Premier Liu He earlier this month on China’s failure to comply with a “Phase 1” trade agreement made with the US under former President Donald Trump.
On October 4, Tai said that some Chinese shipments will be exempted from Trump’s tariff list. She also stated that the US will speak openly with China on the trade agreement’s implementation.
Tai stated that the United States will continue to press China to end multibillion-dollar state subsidies to the semiconductor, steel, and other industries.