U.S. Trade Representative Ambassador Katherine Tai recently outlined how the Biden administration will handle China trade strategy during a speech to the Center for Strategic and International Studies.
“Today, I will lay out the starting point of our Administration’s strategic vision for realigning our trade policies towards China to defend the interests of America’s workers, businesses, farmers and producers, and strengthen our middle class,” Tai said, according to CNBC.
According to CNBC, a trade deal, sealed in January 2020, was to see Beijing buying a minimum of $200 billion of U.S goods and services over the span of 2020 and 2021.
By August, the country had only reached 62% of its target goal, based on U.S. export data gathered by the think tank Peterson Institute for International Economics.
A senior administration official told CNBC that President Joe Biden doesn't believe that that deal properly covered concerns that the U.S. has with trade practices with China.
“Unlike his predecessor, President Biden is going to hold China to account where China is falling short of its commitments,” the official said.