Administration Goes After China on Trade
USAgNet - 06/09/2021
The United States will target China with a new "strike force" to combat unfair trade practices, the Biden administration said on Tuesday, as it rolled out findings of a review of U.S. access to critical products, from semiconductors to electric-vehicle batteries. The
"supply chain trade strike force," led by the U.S. trade representative, will look for specific violations that have contributed to a "hollowing out" of supply chains that could be addressed with trade remedies, including toward China, senior administration officials
According to Reuters, officials say the Department of Commerce was considering initiating a Section 232 investigation into the national security impact of neodymium magnet imports used in motors and other industrial applications, which the United States largely sources from China.
President Joe Biden ordered the review of critical supply chains in February, requiring executive agencies to report back within 100 days on risks to U.S. access to critical goods like those used in pharmaceuticals as well as rare earth minerals, for which the United States is dependent on overseas sources.
Though not explicitly directed at China, the review is part of a broader Biden administration strategy to shore up U.S. competitiveness in the face of economic challenges posed by the world's second largest economy.
The United States faced serious challenges getting medical equipment during the COVID-19 epidemic and now faces severe bottlenecks in a number of areas, including computer chips, stalling production of goods such as cars.
- Drought Spreads in Key U.S. Crop States
- China Flags New Rules for Commodity Price Indexes
- India to Boost Ethanol Production as Fuel Rise
- NPPC Urges Congress to Address Port Bottlenecks
- Tractor Supply Co. Breaks Ground on Ohio Distribution Center
- NASS Reschedules Reports Due to New Juneteenth Holiday
- U.S. Drought Monitor: Relief From Dry Conditions Is Hit or Miss