"Beijing’s commitment to step up purchases of U.S. goods and services under a 2020 trade pact expires Friday with China expected to miss its targets by a wide margin..."
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"... creating a dilemma for the Biden administration as it calibrates a response. The White House could potentially reinstate certain tariffs that were cut as part of the trade deal, but that could backfire if China cut back U.S. purchases or took measures against American companies doing business there. Alternatively, the U.S. could ignore the shortfall, which could send a signal to Beijing that it won’t face consequences.... 'The Biden administration is tied in knots by their own lack of clarity about how they evaluate the problem and the potential solutions,' said Scott Kennedy, a senior adviser at the Center for Strategic and International Studies."
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"... creating a dilemma for the Biden administration as it calibrates a response. The White House could potentially reinstate certain tariffs that were cut as part of the trade deal, but that could backfire if China cut back U.S. purchases or took measures against American companies doing business there. Alternatively, the U.S. could ignore the shortfall, which could send a signal to Beijing that it won’t face consequences.... 'The Biden administration is tied in knots by their own lack of clarity about how they evaluate the problem and the potential solutions,' said Scott Kennedy, a senior adviser at the Center for Strategic and International Studies."
From "Beijing Fell Short on Trade Deal Promises, Creating Dilemma for Biden/China missed targets for buying U.S. goods, but retaliating could come at a cost to American companies and consumers" (Wall Street Journal).
Do you think the Biden administration is tied in knots by lack of clarity? I feel as though I knew the response will be to do nothing and to go ahead and signal to Beijing that there will be no consequences. I would assume that the consequences that matter have to do with the effect on the elections in 2022 and 2024. Perhaps that's the reason to be tied in knots. There's fear that the failure to follow through on Trump's deal will hurt Democrats, and perhaps that it's too hard to explain that it was a bad deal... which the Wall Street Journal writer, Josh Zumbrun, thinks it was, as the article ends like this:
Going forward, Mr. Kennedy of CSIS contends the U.S. should push China toward a market-oriented economy—and not set purchase targets that effectively reinforce Chinese state control.
“This experiment was a failure,” Mr. Kennedy said of the trade deal. “It empowers all the wrong parts of the Chinese system that we want to disappear. It was a disaster and I hope that we learn the right lessons and never go there again.”
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"Beijing’s commitment to step up purchases of U.S. goods and services under a 2020 trade pact expires Friday with China expected to miss its targets by a wide margin..."
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