US President Joe Biden said it was too early to move forward given China’s inability to increase purchases of US goods and services

WASHINGTON, United States — President Joe Biden said Wednesday (January 19) that it was too early to commit to lifting U.S. tariffs on Chinese goods, but his chief trade negotiator, Katherine Tai, was working on the issue.

“I wish I could be in a position where I could say they’re delivering on their commitments, or more of their commitments, and be able to lift some of them, but we’re not there yet,” Biden said. a press conference at the White House.

He was referring to China’s commitments under a Phase 1 trade deal signed by his predecessor Donald Trump.

China is far from delivering on its promise under the two-year Phase 1 trade deal to buy $200 billion in additional American goods and services in 2020 and 2021, and it remains unclear how this deficit will be filled.

Chinese purchases were only around 60% of target through November 2021, according to data compiled by the Peterson Institute for International Economics. The US Census Bureau is expected to release December data next week.

Biden said he’s aware some business groups are calling for him to start rolling back U.S. tariffs of up to 25% imposed by Trump on hundreds of billions of dollars worth of Chinese imports, and that’s why Tai was working on the issue.

But he said it was too early to move forward given China’s inability to increase purchases.

Shu Jueting, spokesperson for China’s Ministry of Commerce, said Thursday (January 20th) that removing US tariffs on Chinese goods would help global economic recovery, especially at a time of high inflation.

“China has always believed that canceling the imposed tariffs would benefit China, the United States and the world,” Shu said at a press conference.

China has previously said it hopes the United States can create the conditions for expanding trade cooperation. – Rappler.com