US Trade Chief Nominee Tai: Will fight Chinese trade barriers, including censorship
|Katherine Tai, US President Joe Biden’s nominee for Trade Representative, said Monday, would work to fight a range of “unfair” Chinese trade and economic practices, including censorship, in written answers to senators’ questions following her confirmation hearing last week.
Key quotes
“I am open to exploring a wide range of options to address our long-standing problems with China’s unfair trade practices, including bilateral talks.”
“However, I will not hesitate to act if those talks prove ineffective,” she added, without naming specific consequences.”
Asked how she would handle “Section 301” tariffs on Chinese goods and tariff exclusions that are now expiring, Tai said she would work to “ensure that those tariffs are appropriately responsive to China’s practices and take into account the impact on US businesses, workers and consumers.”
Market reaction
Amid dismal market mood, the US-China trade jitters are unlikely to bode well for the Chinese proxy, the AUD.
AUD/USD drops 0.18% on the day, now trading at 0.7752. Meanwhile, the S&P 500 futures shed 0.25% to slip back below 3,900.
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