Senior US official: There will be changes in trade policy with China – Reuters

Dhwani Mehta FXStreet

Ahead of the phone call held between US President Joe Biden and his Chinese counterpart Xi Jinping, a senior US official commented on the American-Sino trade policy late Wednesday, per Reuters.

Key comments

“US will look at new targeted restrictions on sensitive technology exports to China.”

“US is not going to act precipitously to lift tariffs on China but there will be changes in trade policy.”

“Tariffs on China will remain in place while US review on trade policy takes place.”

“US trade policy will be based on premise that the US will be better off working with allies rather than unilaterally.”

Meanwhile, US President Joe Biden underscored concerns about Beijing’s coercive and unfair economic practices in his telephonic conversion with China’s President Xi Jinping on Thursday.

S&P 500 Futures slips below 3,900 amid consolidation from record top

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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