Senate gridlock continues to stall NDAA progress
This week, the Senate resumed consideration of the National Defense Authorization Act for Fiscal Year 2022 (NDAA). Though Senate Majority Leader Chuck Schumer (D-NY) had hoped to pass the Senate’s version of the annual defense bill by the end of the week and begin conferencing with the House, Republican Leader Mitch McConnell (R-KY) blocked Schumer’s attempt on Monday to begin voting on the Senate NDAA over concerns that non-China-...
Biden-Xi virtual meeting works to prevent unintended conflict through dialogue
On Monday, Presidents Joe Biden and Xi Jinping held a virtual meeting with several members of their senior staff to discuss the trajectory of the US-China relationship. The talks focused more on managing strategic risks and preventing unintentional conflict than devising solutions for contentious issues in the bilateral relationship. If you missed it, USCBC’s analysis of the meeting is available here....
Biden and Xi present at APEC ahead of bilateral summit on Monday
Today, presidents Joe Biden and Xi Jinping each spoke at the virtual Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting. Biden highlighted opportunities for the United States and Indo-Pacific nations to act collectively on issues ranging from the COVID-19 pandemic to climate change, and stressed the need for shared cybersecurity and digital economy standards. Xi struck a similar tone on the pandemic and climate...
Yellen supports a reciprocal “stabilizing” or eventual lowering of US-China tariffs
This week, Treasury Secretary Janet Yellen told reporters that US Trade Representative Katherine Tai could consider “stabilizing” and eventually reciprocally lowering some US-China tariffs, which could have a “disinflationary” effect in the face of soaring prices in the United States. At the same time, Yellen noted that the Office of the US Trade Representative would continue to push for China to...
Yellen and Liu build off of Tai-Liu engagement in second meeting
Treasury Secretary Janet Yellen and Vice Premier Liu He met via video call on Monday night to discuss areas for US-China macroeconomic cooperation. The United States’ readout of the call was brief and mentioned that Yellen “frankly” raised concerns. China’s readout noted that Liu expressed concern about existing US tariffs and sanctions. Yellen and Liu last met in June to discuss how the Biden administration would...
Burns puts economic and tech competition at center of US-China relationship
Biden’s nominee for US ambassador to China, Nicholas Burns, appeared before the Senate Foreign Relations Committee on Wednesday. Burns took a hardline yet clear-eyed view on China, calling it the “strongest, most dangerous” US competitor in the world. Like several senior Biden administration officials, Burns believes that the US-China relationship should balance cooperation and competition. He said that...
US and China kick off new trade talks
Late last Friday, US Trade Representative Katherine Tai and China’s Vice Premier Liu He met virtually to discuss US-China commercial issues and the two countries’ implementation of the Phase One trade deal. The conversation came after Tai had announced earlier that week that the Biden administration would use Phase One as a tool to maintain US-China dialogue on trade and address outstanding market access issues.
Tai and Liu agreed on the...
Sullivan and Yang build on momentum from Biden-Xi call at meeting in Switzerland
National Security Advisor Jake Sullivan met with Politburo Member and Director of the Office of Foreign Affairs Commission Yang Jiechi in Switzerland on Wednesday to identify areas where the United States and China can work together to address vital transnational challenges. Sullivan emphasized the importance of maintaining “open lines of communication” in order to ensure “responsible competition” and...
US-EU tech council had inaugural meeting, mirroring themes in Raimondo speech
The United States-European Union Trade and Technology Council (TTC) met on Wednesday in Pittsburgh to coordinate their strategies on technology, economic, and trade issues. While the joint statement released after the meeting did not mention China by name, it made several references to non-market economies and trade policies that harm US and EU workers, consumers, and businesses. More specifically, the...
Biden and Xi tell UN they are not seeking conflict
President Joe Biden delivered his first speech before the UN General Assembly on Tuesday. Biden stressed that he welcomes competition but not “a new Cold War or a world divided into rigid blocs.” President Xi Jinping offered similar reassurances in his pre-recorded remarks, saying China will never “invade or bully” others and has “no intention to fight a Cold War or hot war with any country.”
Biden identified several...
