• About
  • Archive
  • China Business Review Historical Archive
  • Contact
  • Home 1
  • Submit a Story
  • Submit a Story
  • USCBC Podcasts
China Business Review
  • Operations
    Multinational Supply Chains in a Post-Pandemic China

    Multinational Supply Chains in a Post-Pandemic China

    Managing Risk in the “New Era”

    Managing Risk in the “New Era”

    Design Patents vs. Trade Dress: Protecting IP in China

    Design Patents vs. Trade Dress: Protecting IP in China

    As China Emerges from COVID-19, US Companies Invest to Compete

    As China Emerges from COVID-19, US Companies Invest to Compete

    Inside the Mad Rush for Masks – Anatomy of a 10 Million Mask Order

    Inside the Mad Rush for Masks – Anatomy of a 10 Million Mask Order

    Addressing Risk in the Era of US-China “Great Power” Competition

    Addressing Risk in the Era of US-China “Great Power” Competition

  • Politics
    Hong Kong’s National Security Law, Five Months In

    Hong Kong’s National Security Law, Five Months In

    China Implements its Long-Awaited Unreliable Entities List Mechanism

    China Implements its Long-Awaited Unreliable Entities List Mechanism

    Competing WTO Reform Agendas and the Contest for the Next Director-General

    Competing WTO Reform Agendas and the Contest for the Next Director-General

    China Eyes Further Northeast Asian Economic Integration in RCEP

    China Eyes Further Northeast Asian Economic Integration in RCEP

    COVID-19 Could Doom or Deliver US-China Commercial Relations

    COVID-19 Could Doom or Deliver US-China Commercial Relations

    A Game of Chicken

    A Game of Chicken

  • Tech
    China and CPTPP: Does China’s Emerging Data Regime Live Up to CPTPP Principles?

    China and CPTPP: Does China’s Emerging Data Regime Live Up to CPTPP Principles?

    Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

    Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

    Semiconductor Self-Sufficiency: MIIT’s Ambitions for 2021 and Beyond

    Semiconductor Self-Sufficiency: MIIT’s Ambitions for 2021 and Beyond

    The Growing Intersection of Digital Health and Data Processing in China

    The Growing Intersection of Digital Health and Data Processing in China

    Export Controls on Emerging and Foundational Technologies: A Null Set?

    Export Controls on Emerging and Foundational Technologies: A Null Set?

    How Companies Are Reacting to China’s New Data Security Scheme

    How Companies Are Reacting to China’s New Data Security Scheme

    Trending Tags

    • Intellectual Property
    • innovation
    • cybersecurity
    • ecommerce
    • tech
  • Society
    Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

    Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

    China Cracks Down on Education Industry in Effort to Increase Birthrate

    China Cracks Down on Education Industry in Effort to Increase Birthrate

    The Extraordinary Rise of China’s Pet Industry

    The Extraordinary Rise of China’s Pet Industry

    COVID-19 Could Doom or Deliver US-China Commercial Relations

    COVID-19 Could Doom or Deliver US-China Commercial Relations

    The Year in Social Credit: Where is Corporate Social Credit Going in 2020 and Beyond?

    The Year in Social Credit: Where is Corporate Social Credit Going in 2020 and Beyond?

    Open Government Developments in China: Implications for US Businesses

  • Media

    Gallery: Craig Allen’s Trip to China

    USCBC 45th Annual Membership Meeting

    USCBC 45th Anniversary DC Open House

    USCBC President’s China Visit

    USCBC Hosts Business Roundtable with Zhejiang Party Secretary Che Jun

    USCBC hosts Comprehensive Economic Dialogue (CED) Luncheon

  • Podcasts
  • Archive
No Result
View All Result
  • Operations
    Multinational Supply Chains in a Post-Pandemic China

    Multinational Supply Chains in a Post-Pandemic China

    Managing Risk in the “New Era”

    Managing Risk in the “New Era”

    Design Patents vs. Trade Dress: Protecting IP in China

    Design Patents vs. Trade Dress: Protecting IP in China

    As China Emerges from COVID-19, US Companies Invest to Compete

    As China Emerges from COVID-19, US Companies Invest to Compete

    Inside the Mad Rush for Masks – Anatomy of a 10 Million Mask Order

    Inside the Mad Rush for Masks – Anatomy of a 10 Million Mask Order

    Addressing Risk in the Era of US-China “Great Power” Competition

    Addressing Risk in the Era of US-China “Great Power” Competition

  • Politics
    Hong Kong’s National Security Law, Five Months In

    Hong Kong’s National Security Law, Five Months In

    China Implements its Long-Awaited Unreliable Entities List Mechanism

    China Implements its Long-Awaited Unreliable Entities List Mechanism

    Competing WTO Reform Agendas and the Contest for the Next Director-General

    Competing WTO Reform Agendas and the Contest for the Next Director-General

    China Eyes Further Northeast Asian Economic Integration in RCEP

    China Eyes Further Northeast Asian Economic Integration in RCEP

    COVID-19 Could Doom or Deliver US-China Commercial Relations

    COVID-19 Could Doom or Deliver US-China Commercial Relations

    A Game of Chicken

    A Game of Chicken

  • Tech
    China and CPTPP: Does China’s Emerging Data Regime Live Up to CPTPP Principles?

    China and CPTPP: Does China’s Emerging Data Regime Live Up to CPTPP Principles?

    Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

    Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

    Semiconductor Self-Sufficiency: MIIT’s Ambitions for 2021 and Beyond

    Semiconductor Self-Sufficiency: MIIT’s Ambitions for 2021 and Beyond

    The Growing Intersection of Digital Health and Data Processing in China

    The Growing Intersection of Digital Health and Data Processing in China

    Export Controls on Emerging and Foundational Technologies: A Null Set?

    Export Controls on Emerging and Foundational Technologies: A Null Set?

    How Companies Are Reacting to China’s New Data Security Scheme

    How Companies Are Reacting to China’s New Data Security Scheme

    Trending Tags

    • Intellectual Property
    • innovation
    • cybersecurity
    • ecommerce
    • tech
  • Society
    Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

    Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

    China Cracks Down on Education Industry in Effort to Increase Birthrate

    China Cracks Down on Education Industry in Effort to Increase Birthrate

    The Extraordinary Rise of China’s Pet Industry

    The Extraordinary Rise of China’s Pet Industry

    COVID-19 Could Doom or Deliver US-China Commercial Relations

    COVID-19 Could Doom or Deliver US-China Commercial Relations

    The Year in Social Credit: Where is Corporate Social Credit Going in 2020 and Beyond?

    The Year in Social Credit: Where is Corporate Social Credit Going in 2020 and Beyond?

    Open Government Developments in China: Implications for US Businesses

  • Media

    Gallery: Craig Allen’s Trip to China

    USCBC 45th Annual Membership Meeting

    USCBC 45th Anniversary DC Open House

    USCBC President’s China Visit

    USCBC Hosts Business Roundtable with Zhejiang Party Secretary Che Jun

    USCBC hosts Comprehensive Economic Dialogue (CED) Luncheon

  • Podcasts
  • Archive
No Result
View All Result
China Business Review
No Result
View All Result
Home Bilateral Relations

How Biden’s Economic Team Views China Trade Policy

Biden’s picks for Trade, Treasury, and Commerce embody the incoming administration’s likely approach to China: hold China accountable and bolster US economic competitiveness.

Chynna Hawes by Chynna Hawes
January 14, 2021
How Biden’s Economic Team Views China Trade Policy

Credit: Gage Skidmore via Wikimedia Commons

Share on FacebookShare on TwitterLinkedin

President-Elect Joe Biden’s trade and economic team will face a variety of China-related issues from day one in office. The next US trade representative will have to grapple with what to do with the Phase One trade agreement and tariffs on some $370 billion worth of Chinese goods. The Commerce secretary will be responsible for implementing export control policy and deciding how to move forward with securing the information and communications technology supply chain, including recent orders banning transactions with Chinese Apps. And the Treasury secretary will be tasked with assessing a slew of sanctions imposed on Chinese officials and entities in response to Hong Kong and Xinjiang, overseeing the securities trading ban on Chinese military-associated firms, and determining what inbound Chinese investment constitutes a national security risk. The list goes on.

Rejuvenating the United States’ economy, competitiveness, and alliance structure are pillars of Biden’s trade and economic agenda, and will underpin his China strategy. The goals and values outlined by Biden’s Build Back Better platform are reflected in the experience of his nominees for US Trade Representative, Treasury Secretary, and Commerce Secretary. 

US Trade Representative: Katherine Tai

No nominee underscores how the incoming administration will address China on the trade and economic front better than Katherine Tai, Biden’s nominee for United States Trade Representative. A trade lawyer by training, Tai has extensive experience working on China industrial policy issues, including as USTR’s chief counsel for China trade enforcement. She was responsible for developing and litigating disputes against China at the World Trade Organization (WTO). Tai was successful in leveraging the multilateral trading system and bringing alliances on board to pressure China to change unfair trade practices, including winning a notable case challenging China’s rare earth export quotas with support from Canada, Japan, and the European Union.

Tai also brings valuable experience and relationships on the Hill, which will be essential to advancing the administration’s trade agenda. In her current post as chief trade counsel for House Ways and Means Democrats, she was pivotal in getting the US-Mexico-Canada Agreement over the line with stronger labor and environmental provisions—top priorities of any new trade agreement. However, she may face challenges pursuing a trade agenda with trade promotion authority—which allows USTR to “fast track” new trade agreements through Congress without amendments—to expire July 1 unless there is a push to renew. 

Though Republican lawmakers have been reserved in commenting on her nomination so far, Tai is widely respected and has received broad support from industry and labor groups. She is likely to have a smooth confirmation process. 

Treasury Department: Janet Yellen

Janet Yellen, Biden’s pick for Treasury secretary, will primarily be tasked with reviving the domestic economy, but will also play an important role in the US-China trade and economic relationship. As former Federal Reserve chair, Yellen engaged with China’s top financial regulators bilaterally and in multilateral fora. Yellen said that, at the time, the Fed viewed China’s currency practices as manipulation, and in 2015, they were concerned about the impact of Chinese currency practices on global financial markets. Despite the concerns, her team was able to maintain a good working relationship with China’s central bank and financial regulators.

Yellen has publicly disagreed with the premise and approach of the Trump administration’s tariffs, but acknowledges that there are real issues that need to be addressed. Government subsidies for Chinese state-owned enterprises and the national security implications of US-China competition in artificial intelligence, 5G, and other technology, are issues she views as having significant consequences for the global economy and that must be addressed delicately. At the same time, Yellen has warned about the risks of technological decoupling. 

Deputy Treasury Secretary: Adewale “Wally” Adeyemo

Adewale “Wally” Adeyemo, if confirmed, will be charged with implementing the administration’s economic strategy vis-à-vis China. He has experience working at the intersection of national security and economic policy, having served as Obama’s Deputy National Security Advisor and in senior positions at Treasury. He has represented US interests in bilateral and multilateral settings, including as Obama’s representative to the G7 and G20 and as Treasury’s chief negotiator for the Trans-Pacific Partnership’s provisions on macroeconomic policy. 

Adeyemo has expressed concern about the national security implications of US global disengagement and withdrawal from multilateral financial institutions, arguing it has helped fuel China’s disregard for international rules and created opportunities for China to advance strategic economic and geopolitical interests. However, he is optimistic about the United States’ economy, arguing for both expanding trade opportunities for American firms to sell to global consumers, particularly the Asian middle class, and investing domestically to reduce inequality. He has consistently argued that the best defense of multilateralism and the rules-based order is addressing domestic social and economic inequality. 

Secretary of Commerce: Gina Raimondo

Biden nominated former venture capitalist and Rhode Island Governor Gina Raimondo for Commerce secretary, filling out his economic team. The Department of Commerce has a wide range of responsibilities that includes helping to negotiate trade agreements, aggregating trade data, enforcing laws to ensure a level playing field for American businesses, and fostering innovation. While Raimondo has extensive experience promoting economic growth and investment, she has less international experience. 

The secretary of Commerce played an outsized role in the US-China relationship during the Trump administration, particularly on the technology and national security front. Raimondo is unlikely to assume a similar role in the Biden administration, but her views on the US-China economic relationship are likely shaped by her experience with deindustrialization and the outsourcing of jobs when her father’s watch factory was shuttered—a formative experience she shared in her nomination speech.

Chynna Hawes is a Senior Manager for Government Affairs at the US-China Business Council.

Chynna Hawes

Chynna Hawes

Next Post
China’s New Complaint Measures for Foreign Companies: Substance or Style?

China’s New Complaint Measures for Foreign Companies: Substance or Style?

Recommended.

China and CPTPP: Does China’s Emerging Data Regime Live Up to CPTPP Principles?

August 5, 2022

Reflections on the Phase One Agreement

January 20, 2022

Can China’s Beleaguered Gaming Industry Overcome the New Wave of Restrictions?

November 29, 2021

From Reshoring to Rightshoring: Dr. Sara Hsu on the Future of US-China Supply Chains

August 4, 2021

Latest Podcasts.

What recent chip export controls mean for business

January 25, 2023

Taking stock as we enter USCBC’s 50th year

January 13, 2023

What unexpected midterm results mean for China policy

November 16, 2022

Two tales of travel to China

November 7, 2022
China Business Review

China Business Review is the official magazine of the US-China Business Council, a nonprofit and nonpartisan trade association that represents more than 200 American companies doing business in China.

  • How to contribute to China Business Review

Categories

  • Bilateral Relations
  • Business Etiquette
  • CBR Spotlight
  • China Deals
  • Corruption
  • Cybersecurity
  • Ecommerce
  • Environment
  • Finance
  • Galleries
  • Getting Started
  • HR & Staffing
  • Infographics
  • Innovation
  • Intellectual Property
  • Management
  • Media
  • Operations
  • Opinion
  • Policy & Regulations
  • Politics
  • PR & Marketing
  • Rural Issues
  • Safety
  • Social Policy
  • Society
  • Standards + Licensing
  • Sustainability
  • Tax
  • Tech
  • Top Story
  • Trade
  • Uncategorized
  • US-China Business Council
  • Videos

Tags

Agreements Agriculture Alibaba Best Practices Business Environment China China's Investments Abroad China Market Intelligence Chinese Consumers Chinese Investment Commentary Consumer Trends E-Commerce Economic Trends Energy Environment Events Food Foreign Investment Going Global Healthcare Reform Human Resources Infrastructure Internet Interview Investment Investments into China IPO Joint Venture Labor Legal Analysis M&A Manufacturing Media National People's Congress Q&A Strategic and Economic Dialogue Supply Chains Technology Trade Transparency US-China Relations USCBC US Exports to China Xi Jinping

Join our Mailing List

Sign up for the US-China Business Council's newsletters to stay ahead of the game with roundups, analysis, and commentary.

Sign Up

Follow Us

  • About
  • USCBC
  • Submit a Story
  • Archive

© 2022 China Business Review

No Result
View All Result
  • Operations
  • Politics
  • Tech
  • Society
  • Media
  • Podcasts
  • Archive

© 2022 China Business Review