Beijing's lack of adherence to trading norms hindered prosperity of countries: US
Oct 04, 2021
Washington [US] October 4 : US Trade Representative Katherine Tai during the US-China trade relationship said that Beijing's lack of adherence to global trading norms has undercut the prosperity of the US and other countries in the world.
Tai's remarks came on Monday while she delivered remarks at the Center for Strategic and International Studies (CSIS) outlining the Biden-Harris Administration's new approach to the US-China bilateral trade relationship.
"For too long, China's lack of adherence to global trading norms has undercut the prosperity of Americans and other countries around the world," Tai said.
"The US-China trade and economic relationship is one of profound consequence, how we relate to each other does not just affect our two countries, It impacts the entire world and billions of workers," she added.
She also reiterated that the US has to make smart domestic investments to increase self competitiveness.
"We must invest in research and development and clean energy technology, strengthen our manufacturing base, and incentivize companies to buy American up and down the supply chain," Tai added.
Meanwhile, the Trade representative also said that Washington will use the full range of tools that the country possesses to defend American economic interests from harmful policies and practices.
The US will also work with allies to shape the rules for fair trade in the 21st century, and facilitate a race to the top for market economies and democracies, Tai informed.
She also said that the country's goal is to bring deliberative, stable, long-term thinking into our approach and to work through bilateral and multilateral channels.
"The core of our strategy is a commitment to ensuring we work with our allies to create fair and open markets. There is a future in which all of us in the global economy can grow and succeed, where prosperity is inclusive within our own borders and across those borders too," she added.
