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The US leader has said that China is not fulfilling its commitments under the Phase 1 trade agreement signed by its predecessor, Donald Trump.
U.S. President Joe Biden said Wednesday it was too early to commit to raising U.S. tariffs on Chinese goods, but Katherine Tai was working on the issue with her chief trade negotiator.
“I wish I could be in a situation where I would say they are fulfilling their commitments or commitments and be able to remove some of them, but we’re not there yet,” Biden said. , Referring to China’s commitments a Phase 1 trade agreement signed by his predecessor Donald Trump.
China is a long way from the end of 2021 to buy additional $ 200 billion worth of US goods and services under a two-year trade deal, and it is unclear how the shortcoming will be remedied.
Chinese purchases reached about 60 percent of the target by November 2021, according to data compiled by the Peterson Institute for International Economics. The U.S. Census Bureau is expected to release data for December next week.
Biden said he knew that some business groups were demanding that Trump start releasing 25 percent of US $ 25 billion worth of Chinese imports, and that was why Tai was working on the issue.
But he said it was too early to move forward, given that China had not boosted its purchases.
China said last week that the US hopes to create the conditions for expanding trade cooperation.
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