Industry experts and leaders are keen to know the details of the new U.S. China trade deal.
Industry leaders and experts in the US are still waiting for the policy review of trade with China that was announced eight months ago. Katherine Tai, one of the top trade officials of President Joe Biden, has stated that she will hold talks with the officials in China over their the trade deal done by the former president, and she also wants to make sure that talks are back on for granting exclusions to Chinese imports. Trade economist Mary Lovely has stated that Tai will be re-engaging with China, and that is certainly a good thing. She furthermore added that the whole plan seems like to just have a conversation with officials in China.
What happens next regarding the deal will mostly depend on how the conversation goes. Speech delivered by Tai at the Center for Strategic and International Studies has received immense support from the unions, Democratic lawmakers, and also former president’s trade official. In recent times many industries had to pay three years’ worth of tariffs, and now they are keenly looking forward to seeing which products will receive relief from the tariff. Companies and councils are worried that certain industries might have permanent tariff charges if there is no proper roadmap to deal with the same.
