According to the agency, due to inflation in the United States, the Biden team tried for several months to reduce duties on Chinese imports, but after the escalation in Taiwan, all initiatives were suspended
The administration of US President Joe Biden made attempts to revise trade duties with Beijing, but China's military exercises around Taiwan nullified the initiative, Reuters reports.
Due to record inflation in the United States, the Biden team has been trying for several months to reduce duties on Chinese imports imposed by former US President Donald Trump, according to agency sources. However, according to them, the situation around Taiwan has changed Washington's mind about the possible revision or elimination of tariffs.
“I think Taiwan has changed everything,”— told a Reuters source familiar with the discussion of the initiative.
Another spokesman pointed out that the unilateral removal of some US tariffs on Chinese imports has been delayed in part because China has shown no willingness to retaliate or honor its obligations under the trade deal.
A spokesman for the Chinese embassy in Washington told Reuters that economic and trade relations between the two countries are facing “serious” tensions. problems. “The (Pelosi's) visit undermined the political foundation of Sino-US relations and will inevitably lead to a serious disruption of exchanges and cooperation between the two parties,” he said.
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Back in 2019, the Trump administration imposed 10 percent tariffs on $300 billion worth of goods from China and 25 percent on $250 billion worth of goods. In total, tariffs were imposed on more than 2,200 categories of imports, including many critical industrial components and chemicals. . When Biden took office in January 2021, he only reinstated 352 of them.
Another aggravation of relations between Beijing and Washington occurred due to a visit to Taiwan by Speaker of the US House of Representatives Nancy Pelosi in early August. She called the trip to Taiwan a sign of US support “bright and dynamic”; democracy. The Chinese authorities criticized her visit, accusing the United States of violating the “one China” principle, and began large-scale military exercises with shooting near the island.
The United States considered the Chinese military exercises an “irresponsible provocation”; and called for an immediate halt to the maneuvers. According to Politico, the US military command tried to contact colleagues from the Chinese army, but Beijing did not respond to requests. At the same time, Washington stressed that Pelosi's trip was in line with the “one China” policy.
Taiwan declared secession from China during the civil war in 1949. Beijing does not recognize the independence of the island and considers it its province. The administrative status of the region has not been settled.
Officially, the United States has no relations with the Taiwan authorities, but since 1979 a law has been in force between them, according to which Washington can supply defensive weapons to the region. At the same time, the American authorities have repeatedly stated that they support the “one China” policy.