Washington Update

November 4th, 2021
By USCBC Government Affairs

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...

October 28th, 2021
By USCBC Government Affairs

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...

October 21st, 2021
By USCBC Government Affairs

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...

October 14th, 2021
By USCBC Government Affairs

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...

October 7th, 2021
By USCBC Government Affairs

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...

September 30th, 2021
By USCBC Government Affairs

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...

September 23rd, 2021
By Anna Ashton and Allie Klein

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...

September 16th, 2021
By USCBC Government Affairs

Biden reaches out to Xi as US ponders new Section 301 investigation

Last week, President Joe Biden initiated a phone call with President Xi Jinping after a series of less senior conversations had stalled. The White House readout shares that the presidents discussed several broad, strategic issues and are considering a face-to-face meeting in the future, while sticking to an “ongoing” and “high-level” communication channel in the meantime. According to China’s Ministry of Foreign...

September 9th, 2021
By USCBC Government Affairs

Commerce indicates controls on foundational technologies still under consideration

During a US-China Economic and Security Review Commission hearing on Wednesday, Acting Undersecretary for the Department of Commerce’s Bureau of Industry and Security (BIS) Jeremy Pelter said that foundational technologies should be controlled using multilateral regimes. While it is unclear if or when BIS will take action, Pelter’s statement is the strongest indication yet of the Biden administration’s...

September 2nd, 2021
By USCBC Government Affairs

US-China tensions threaten to derail climate collaboration

This week, US Climate Envoy John Kerry traveled to China to continue climate discussions with his counterpart, Climate Envoy Xie Zhenhua, and also met with Foreign Minister Wang Yi. While both sides agree that climate change must be addressed in coordination, Wang argued that collaboration on climate change cannot be divorced from the overall US-China relationship and that the United States must bring the relationship “back on...