Home World High-level calls between the US and China over ‘trade conflict’… China’s “removal of tariffs” vs. US “concerns about state-led policy”

High-level calls between the US and China over ‘trade conflict’… China’s “removal of tariffs” vs. US “concerns about state-led policy”

by news dir

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Composite image of American and Chinese flags. Getty Images Bank

The U.S. and China have engaged in a tense nerve battle over a video call between high-level trade representatives. While the US raised concerns about China’s ‘government-led’ policy, China responded by demanding the elimination of additional tariffs from the US. Both countries are targeting each other’s sensitive areas.

According to China’s Ministry of Commerce and foreign media on the 10th, Chinese Deputy Prime Minister Liu He and US Trade Representative Catherine Tai met via video the day before and exchanged views on expanding trade exchanges and cooperation between the two countries. The two met for the second time since May of this year. The call was made five days after the Joe Biden administration unveiled its trade strategy with China on the 4th, which is based on maintaining high tariffs and complying with the first phase of the trade agreement prepared during the Donald Trump administration.

In a statement after the meeting, the USTR said, “During the candid exchange of opinions, the two sides shared the understanding of the importance of bilateral trade relations and the impact it will have on the global economy beyond the two countries.” China’s Ministry of Commerce also announced that “practical, candid and constructive opinions were exchanged.” In diplomats, the expression ‘candid conversation’ is a euphemism used when there is no consensus. It can be assumed that there were no immediate tangible results from this discussion.

It is known that both sides conveyed their respective positions at this meeting. The U.S. is reported to have criticized China for not faithfully implementing the first phase of the trade agreement signed in January last year. In the agreement at the time, China agreed to purchase an additional $200 billion (about 237 trillion won) of U.S. goods and services in 2020-2021 compared to 2017. However, according to an analysis by the Peterson International Institute (PIIE), a Washington think tank, China’s imports of US goods from January to August of this year were only 69% of the target based on Chinese statistics.

Then US President Donald Trump (front row, right) and Deputy Prime Minister Liu He (front row, left) pose for a commemorative photo after signing the phase one trade agreement at the White House in Washington in January of last year. Washington = Reuters

The US also expressed concern that its workers, farmers and businesses are being harmed by China’s state-led and non-market policies. “It is up to China to prove it is willing,” a USTR official told Reuters. In the future, the official explained that the US will focus on improving competitiveness, diversifying markets, and limiting the impact of harmful practices in China.

China, on the other hand, is said to have raised negotiations with the United States to lift additional tariffs and sanctions. State-run Xinhua News Agency explained, “We have also made clear our position on our economic development model and industrial policy.” Outside the forum, China refuted the US’s opinion. In an interview with a Chinese media after the meeting, Chinese Ambassador to the US Chin Kang pointed out that China’s purchases of US goods did not reach an agreement. We have been faithfully and steadily implementing the agreement, including the

Heo Kyung-ju reporter

Balance to see the world, Hankook Ilbo Copyright © Hankookilbo

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