Home / Knowledge / News / Textiles / US-PRC trade deal among issues under review: White House

US-PRC trade deal among issues under review: White House

05
Feb '21

Pic: Shutterstock

The US government will review all national security measures put in place by former President Donald Trump, including the US-China Phase 1 trade deal signed in January last year, according to White House press secretary Jen Psaki, who recently said the US-China relationship will be approached “from a position of strength, and that means coordinating and communicating with our allies and partners about how we’re going to work with China.”

“Everything that the past administration has put in place is under review, as it relates to our national security approach, so I would not assume things are moving forward,” she was quoted as telling a White House briefing by global newswires.

The Phase 1 trade agreement was signed in January 2020 after a nearly 18-month trade war in which US and Chinese goods worth hundreds of billions of dollars were hit by tit-for-tat tariffs, slowing bilateral trade.

Treasury secretary Janet Yellen also flagged a comprehensive review of China’s implementation of the trade deal in written responses to questions from lawmakers last week, and said Washington would work with allies to address ‘abusive’ practices by the world’s second-largest economy.

Doug Barry, spokesman for the US-China Business Council, told a news agency it made sense for the Biden team to review the trade deal and other Trump policies, but downplayed concerns about any imminent cancellation.

Barry noted that China had already made significant purchases of agricultural products, boosting jobs in that sector, and said Chinese officials had signaled that they planned to meet their commitments under the trade agreement.

Fibre2Fashion News Desk (DS)

More Textiles News - United States Of America...