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Watch Live: Biden Admin Lays Out New China Strategy In Closely-Watched Remarks

Courtesy of ZeroHedge View original post here.

As we previewed a few days ago, President Biden's US Trade Representative Katherine Tai is preparing to deliver a major speech outlining the Biden Administration's policies and diplomatic priorities regarding its relationship with China. The speech will be held ahead of talks where, Tai has said, she will confront the Chinese about promises from the "Phase 1" trade deal that allegedly haven't been kept.

According to Reuters, Tai is expected to criticize China for not meeting its commitments and for abusing "global trading norms": "For too long, China's lack of adherence to global trading norms has undercut the prosperity of Americans and others around the world." She also is expected to say that China made promises to American industries, especially agriculture, and that they must be kept.

Tai is also expected to say that she intends to have 'frank conversations' with her counterpart in China. "That will include discussion over China's performance under the Phase One Agreement and we will also directly engage with China on its industrial policies." Tai will not rule out the use of any trade tools, to bring China into compliance with the deal, officials said, but did not offer a time frame for such actions. The deal is scheduled to expire at the end of 2021. She's also expected to pursue a virtual meeting with Chinese VP Liu He to discuss the trade deal "soon". Right now, the administration doesn't plan to try to pursue negotiations of a "Phase 2" deal.

Readers can watch live below:

Here's a description of the event, courtesy of CSIS:

We are pleased to welcome Ambassador Katherine Tai, U.S. Trade Representative, to CSIS for a conversation on the Biden-Harris Administration’s trade agenda. Ambassador Tai previously served as Chief Trade Counsel and Trade Subcommittee Staff Director for the House Ways and Means Committee in the United States Congress. In this capacity, she played an important role in shaping U.S. trade law, negotiations strategies, and bilateral and multilateral agreements.

As U.S. Trade Representative, Ambassador Tai serves as the president’s principal trade advisor, negotiator, and spokesperson on trade issues. She is responsible for developing U.S. international trade, commodity, and direct investment policy, and overseeing negotiations with other countries.

Ambassador Tai will deliver a speech outlining the Biden-Harris Administration’s approach to the bilateral trade relationship with China. Following the speech, Ambassador Tai will participate in a conversation with Bill Reinsch, Senior Adviser and Scholl Chair in International Business at CSIS, followed by audience Q&A. We hope you will be able to join us for an engaging and informative discussion.

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Finally, Rabobank's analysts had this to say: "And so back to Tai and either a US signal of détente and can-kicking, or of disengagement and ‘Yes, we can’ kicking. Politico suggests we should buckle up, with Tai telling them: "I would say that the 301 tariffs are a tool for creating the kind of effective policies, and [are] something for us to build on and to use in terms of defending to the hilt the interests of the American economy, the American worker and American businesses and our farmers, too."

"She also challenges the notion that tariffs are ultimately paid by American consumers, saying it’s a more complicated calculation than many suggest. Now *there* is a kick to the guts of the neoclassical trade consensus!"


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