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WEEK OF 2021.10.19

News, Views & Items of Interest Relevant to the Carolina Region
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Eight months into the new administration, President Biden's USTR Ambassador Katherine Tai has finally released her roadmap for re-engaging China after her substantial policy review. Her bilateral trade approach will build on the Phase One initiatives established by the previous administration. Viewing her policy positions, critics see this as a longer-term play to engage China and to rally U.S. alliances around the globe. There are no quick fixes with China!

USTR Ambassador Tai Puts Forward New Trade Policy Between the U.S. and China

A Conversation with Katherine Tai
Monday, October 4, 2021 10:00 am - 11:00 am
CSIS Headquarters

On Monday, Oct. 4, 2021, USTR Ambassador Tai delivered a speech outlining the Biden-Harris Administration’s approach to the bilateral trade relationship with China. Following the speech, Ambassador Tai participated in a conversation with Bill Reinsch, Senior Adviser and Scholl Chair in International Business at CSIS, followed by audience Q&A.

As U.S. Trade Representative, Ambassador Tai serves as the president’s principal trade advisor, negotiator, and spokesperson on trade issues. She is responsible for developing U.S. international trade, commodity, and direct investment policy, and overseeing negotiations with other countries.

Tai previously served as Chief Trade Counsel and Trade Subcommittee Staff Director for the House Ways and Means Committee in the United States Congress. In this capacity, she played an important role in shaping U.S. trade law, negotiations strategies, and bilateral and multilateral agreements.

US-China Phase One Tracker: China’s Purchases of US goods as of August 2021

China Tracker_2021-09-24_piiechart_
According to the Peterson Institute, for 2021, China has committed to purchase no less than an additional $98.2 billion of covered goods from the United States relative to these 2017 baselines. Defining the 2017 baseline using US export statistics implies a 2021 target of $193.3 billion (blue in panel a). Defining the 2017 baseline using Chinese import statistics implies a 2021 purchase commitment of $207.4 billion (red in panel a).

Why Biden will try to enforce

Trump’s phase one trade deal with China

Biden and Xi
According to the Peterson Institute, Beijing made the $200 billion purchase commitment in the hopes of defusing the trade confrontations with the Trump administration. The phase one agreement also committed China to make progress on enforcing intellectual property rights, remove non-tariff barriers to farm imports, liberalize its financial services sector, and take other steps that will also presumably be part of Tai's discussion. But understanding where China's purchases in 2020 and 2021 fell short, and why, is crucial to any effort to address the US-China trade relationship.

Biden Unveils Plan to EASE Supply Chain Crisis

Biden Supply Chain Crisis

What's behind supply chain breakdowns?

CBS Sunday Morning with Jane Pauley
In recent months, supply chain problems have been blamed for shortages affecting just about every sector of industry and commerce. But what exactly is broken, and why? CBS correspondent David Pogue asked the experts to supply answers.
- October 2021 ALL 2021 Sponsor Logos trimmed
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Carolina World Trade Association

Founded in 1964, CWTA is a chapter of the North Carolina World Trade Association (NCWTA), which promotes the growth of trade between North Carolina and the world by providing education and networking opportunities for our global ecosystem.

As a business-driven non-profit organization, CWTA’s mission is to promote, foster, and encourage international commerce success and expand economic growth in the Carolinas region. We do this by:
  • Advocating the interests of businesses engaged in international trade on local, regional, state, and federal levels;
  • Educating businesses and their employees to the resources, issues, policies, and practices within international trade;
  • Promoting regional assets and opportunities for expanding inbound and outbound international commerce; and
  • Celebrating the successes of international trade in the region.
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