The trade riffraff between China and the United States intensified further during the pandemic. It smoldered to a point that then-President Donald Trump released a series of curbs against Chinese businesses operating in the United States.
In the context of protecting national security, Trump managed to trample even the biggest names in the industry. Such include Huawei, ByteDance’s TikTok, and many other big names.
While the clash seemed to have taken a hiatus down since President Biden assumed the presidency, there is still so much work to do.
In a statement released earlier, US Trade Representative Katherine Tai noted the very large challenges that the country faces in its relationship with China.
This includes both the economic and trade parlance which were the two most affected industries on the countries’ quest to hegemony.
Speaking before a virtual meeting, Tai met with China’s Vice Premier Liu He to discuss the discourse of US-China trade relations.
Insiders noted that the exchange has been candid but also pragmatic and constructive at the same time.
The center of the discussion has been the development of bilateral trade between the two opposing parties.
The mechanism has been considered as one of the most effective solutions to engage both parties in a formal agreement with one another.
The agreement is expected to bring forth a renewed approach on how each party deals with the concern of others.
Currently, the world’s two most powerful economies are bounded by trade war phase one agreement which operates in a better than expected manner.
Last year, Chinese imports of American agricultural products hit a record high due to the binding document, along with the surge in demand.
Will Trade Talks Enhance US-China Relationship?
In a brief context, the recent meet is the first formal engagement between the two countries’ prominent trade policymakers.
Katherine Tai has been confirmed by the Senate only a few March before, on March 17, and immediately assumed post the day after.
As her first order of business in the office, Tai made an adamant criticism of China’s alleged crackdown on the Uighur population.
The United States resorted to the banning of cotton and tomato imports from Xinjiang over the issue of human rights abuses.
Before her official seating, the policymaker vowed to focus on the elimination of China’s unfair competition rules.
Despite the hurdles, no major trade dispute emerged between the two rivals since Biden’s ascension to the presidency in January.