Biden says will not kill Phase 1 trade deal with China immediately: NYT – By Reuters Staff (Reuters) / Dec 2 2020
(Reuters) – Joe Biden will not immediately cancel the Phase 1 trade agreement that President Donald Trump struck with China nor take steps to remove tariffs on Chinese exports, the New York Times on Wednesday quoted the U.S. president-elect as saying.
In an interview with Times columnist Thomas Friedman that gave clues to how the new administration will proceed on foreign policy, Biden said his top priority was getting a generous stimulus package through Congress, even before he takes power.
This week Reuters reported that Trump was eyeing more steps to box Biden into hardline positions on Beijing, backed by the anti-China sentiment in Congress that has often unnerved financial markets in the past four years.
“I’m not going to make any immediate moves, and the same applies to the tariffs. I’m not going to prejudice my options,” President-elect Biden told Friedman.
Biden said he would pursue policies targeting China’s “abusive practices,” such as “stealing intellectual property, dumping products, illegal subsidies to corporations” and forcing “tech transfers” from U.S. companies to Chinese counterparts.
