Biden Administration trade chief Katherine Tai indicts Beijing's market distorting practices. Good!
"For too long, China's lack of adherence to global trading norms has undercut the prosperity of Americans and others around the world. In recent years, Beijing has doubled down on its state-centered economic system," Tai said. "It is increasingly clear that China's plans do not include meaningful reforms to address the concerns that have been shared by the U.S. and many other countries."
China cannot be trusted! I hope this is evidence that Democrats, Republicans, and Independents all see and agree on this.
China has not lived up to its end of the trade deal signed with President Trump. They were supposed to buy $200 billion in farm, energy, and manufactured products from the US by the end of the year. The article states that China has bought 89% of the agreed upon farm products but just 42% of the energy commitments. How much in manufactured goods has been bought was not mentioned but my guess is it is less than the energy commitment.
I can understand the 89% of farm products since Xi needs to keep his people fed. The Communist Party cannot have unrest because of hunger while they simultaneously crack down on freedoms across the board. The energy purchases are also understandable since they were agreed to under Trump when energy prices were much lower. That slack has probably been made up by Russia.
The failure to purchase the agreed upon manufactured goods may not be because "China is asshole!" It may be further evidence that the Chinese economy is not as robust as believed in some circles.
Keep the tariffs in place and make sure there's some action to back up the tough talk. I think most Americans could agree on that.
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