China appreciates US call for tariff cuts



NEW JERSEY: Comments by US Treasury Secretary Janet Yellen on the final cut in some tariffs on Chinese products by the United States marks another positive sign in Sino-US trade relations and could be an important step for the two countries. in order to settle one of their most important and damaging trade disputes: tariffs, Chinese analysts said.

However, analysts also pointed to the lack of specific actions by US officials despite their increasingly positive tone on trade issues, calling on US officials to honor their commitments and take concrete steps to roll back unilateral trade policies. damaging under the previous US administration.

Yellen said that “the United States expects China to honor its commitments under the Phase One trade deal signed under former President Donald Trump, but could possibly consider lowering some tariffs in such a way. reciprocal “in an interview with Reuters published Monday. Yellen said lowering tariffs would help solve inflation problems in the United States.

His comments came amid more frequent trade talks between senior officials in recent weeks and growing positive signs in bilateral trade relations.

U.S. Trade Representative Katherine Tai said on Oct. 28 at a meeting of the U.S. National Chicken Council that her engagement with China was aimed at lowering the temperature of a trade relationship between the world’s two largest economies that s is dangerously heated, Reuters reported.

The remarks followed two rounds of trade talks between senior Chinese and US officials in October, both Tai and Yellen having held talks with Chinese Vice Premier Liu He.

Chinese analysts in the aftermath of Sino-U.S. Trade ties pointed out that Yellen’s remarks showed that the United States might start to accept the idea of ​​tariff cuts, which China has repeatedly and persistently called for.

Gao Lingyun, an expert from the Chinese Academy of Social Sciences in Beijing, told the Global Times on Monday that remarks about tariffs by senior officials in the Biden administration showed an interesting trend, in that tariffs traditionally a concern for the Chinese side, have now become a concern of the United States as well.

Li Haidong, a professor at the Institute of International Relations at the China Foreign University, told the Global Times on Monday that Yellen’s remarks again confirmed that Washington’s approach to trade friction and removal China’s unilateral could not solve the United States’ problems.

“Such understanding comes from the fact that China-US trade and economic cooperation is a win-win nature,” Li said.

Li said the remarks show the United States realizes it needs to raise or lower tariffs imposed by Trump on Chinese products. “This is a positive plea for the removal of Trump’s tariffs, which are obstacles that block Sino-US trade and economic cooperation,” Li said.

Calls to remove tariffs echoed across the Pacific.

“China’s tariff relief has also helped fuel US merchandise exports to many parts of the country. USCBC continues to advocate for the United States and China to reduce and permanently eliminate all of their respective tariffs, ”said Craig Allen, President of the United States. China Business Council (USCBC), noting that China-US trade has real consequences for businesses, workers, and communities across the country and in almost every industry.



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