Inheriting China policy, Biden will have issues

The deal did make some improvements. For example, it opened up US financial companies’ access to China, though this was something China’s economy needed. Doug Barry, senior director of communications and publications for the US-China Business Council, said companies have felt the difference. “A number of our businesses, including insurance companies, banks, financial managers of one kind or another, have gone in and found that conditions are excellent.” It’s gotten easier to export agricultural goods to China, including genetically modified crops, Barry said. But he was quick to point out the other massive issue Biden will inherit: tariffs on $350 billion worth of Chinese goods as well as retaliatory tariffs on more than half of what the US sells into China.