The Biden administration has announced that it will set up a “strike force” to combat China’s “unfair trade practices” as part of a plan to strengthen US supply chains. The recommendation to set up a “strike force” that will be led by US Trade Representative Katherine Tai was made in a White House report released on Tuesday after a 100-day supply chain review.
The report reads: “We recommend the establishment of a US Trade Representative-led trade strike force to identify unfair foreign trade practices that have eroded US critical supply chains and to recommend trade actions to address such practices. We also recommend that supply chain resilience be incorporated into the US trade policy approach towards China.”
The 100-day supply chain review was ordered by President Biden in February. It includes assessments from the departments of Commerce, Defense, Energy, and Health and Human Services. The four federal agencies said China “stands out for its aggressive use of measures — many of which are well outside globally accepted fair trading practices — to stimulate domestic production and capture global market share in critical supply chains.”
The review examined supply chains across several industries, and the US seems especially focused on semiconductors, which are a crucial component in modern electronics. On Tuesday, the Senate passed a sweeping piece of legislation meant to counter and compete with China that includes about $52 billion in subsidies for domestic semiconductor manufacturing.
When it comes to overall trade policy, President Biden is looking a lot like his predecessor. Biden has not lifted Trump’s China tariffs, despite data showing Americans are bearing the brunt of the cost.
Whoever is advising Biden is a fool. All of this provocation is bringing different factions in China together. Nationalism has a tendency to do that.
In 1964 A Brilliant Pakistani Economic Professor Saeed Ahmed from Hailey College of Commerce, Lahore, Panjab, mentioned that “THE DESTINY OF WESTERN CIVILIZATION LIES IN THE HANDS OF CHINA” so, the whole world is seeing it happening, whether we like it or not. PERIOD.
If Biden wants to take some reactive moves to counter China’s advantage in our ruinous trade relationship – I’d welcome the lynching of one William Jefferson Clinton who had the bright notion to voluntarily ship our manufacturing business to them in the first place.