China has failed to meet its commitments under a two-year “Phase 1” trade deal that expired at the end of 2021, and discussions are continuing with Beijing on the matter, Deputy U.S. Trade Representative Sarah Bianchi said.
, did not identify steps the Biden administration is taking to hold China to its Phase 1 commitments, which also include some increased Chinese market access for U.S. agriculture, biotechnology and financial services.“It’s not our goal to escalate here. But certainly we’re looking at all the tools we have in our toolbox to make sure they’re held accountable,” Bianchi said, without providing details.
Bianchi, who served as an economic adviser in the Obama administration and took office in October, said the United States was trying to foster a “stable relationship” with China, but the two countries are at a “difficult stage in the relationship.” “To be super-candid, the conversations are not easy. They’re very difficult. But you know, from my perspective, what’s important is that we’re having conversations and they will be unflinchingly honest,” Bianchi said.and practices are a “serious threat to American economic interests.”
Bianchi said USTR was consulting closely with Congress on the Biden administration’s planned Indo-Pacific Economic Framework to re-engage economically with the rest of Asia, and more details would be released in coming weeks. The framework will not include improved market access for countries that sign up, Bianchi said, but said the United States will be seeking high-standard “binding commitments” from trading partners in negotiations on digital trade policies, labor rules, environmental standards and supply chain resilience.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hot money outflows down 86% in 2021The BSP registered only $574.46 million of net foreign portfolio outflows in 2021, lower by 86.5 percent compared to the previous year’s net outflow of $4.24 billion.
Read more »
The 10 best-selling cars of 2021 in the Philippines - Auto NewsTop ten automobiles sold in 2021: Seven Toyotas, two Mitsubishis, and one Nissan
Read more »
Sinigang is named World's Best Soup by Taste Atlas for 2021It doesn't come as a soup-rise! The Filipino sour soup is voted as The Best Soup in The World with a 4.63 out of 5 rating.
Read more »
US watchdog warns over athletes' safety at China OlympicsA US rights monitor sounded the alarm Monday over athletes’ safety at China’s upcoming Winter Olympics, after the host threatened “punishment” for anti-Beijing comments.
Read more »
Vehicle Importers Lean On LCVs To Achieve 14 Percent Growth In 2021 | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Read more »
1,477 new COVID-19 cases in Metro Manila lowest since Dec. 30, 2021 — OCTAMetro Manila’s new COVID-19 cases on Tuesday dropped to 1,477, significantly lower than the 4,040 additional infections recorded on Sunday, according to independent analytics group OCTA Research. | cgonzalesINQ
Read more »