Groups want Biden to resume trade talks with China

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(NAFB) – Some of America’s most influential business groups want the White House to restart trade talks with China.

The New York Times said it also wants tariffs reduced on goods imported from China. These rights have been in place since the start of a trade war between the two nations. The groups represent a variety of business interests, including potato producers, microchip companies and pharmaceuticals. In a letter to the Biden administration, they call on the president to work with the Chinese government to ensure it meets the commitments made in the Phase 1 trade deal that China signed with the Trump administration.

The letter was addressed to the Treasury Department and the U.S. Trade Representative, and it comes as relations between the world’s two largest economies remain controversial. The administration has spent more than seven months reviewing the Phase One trade deal, along with other national security measures put in place by the Trump administration.

The authorities have not yet announced the results of the examination. The January 2020 agreement between the United States and China kept U.S. tariffs in place on $ 360 billion of Chinese imports. Some provisions of the agreement expire at the end of this year, but much of the agreement will remain in effect.

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