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U.S. Wants New Trade Talks with China, But Will Keep Tariffs
Keywords: Biden China Tariffs,
The Biden administration makes its decision- it will continue the tariffs president Trump placed on about half of Chinese imports into the US. It also seeks new talks with China on trade.
US is also pursuing other policies on trade that were not pursued by the Trump administration. Longer term it is about alliance building in trade with the European Union, Britain, Japan, South Korea, Taiwan and India. These alliances would jointly approach China on trade, economic and security matters.
Another approach is for the US to build at home. Congress is asked to approve $52 billion in subsidies that the Biden administration wants to give to companies so that they build the semiconductor plants of the future right here in the USA.
The Biden administration is also aware that China is doubling down on technology purchases within China from Chinese firms to support its own high tech industries. In response it is laying down a policy of its own for the future step by step.
The Chinese market now takes less priority than maintaining technological leadership of the US in all advanced technologies. The Biden administration is steering American industry and technology advancement in this direction.
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