In comments made on May 14, President Joe Biden recounted a recent conversation with Chinese leader Xi Jinping. The two discussed trade practices and Xi expressed concern regarding America’s treatment of China.
President Biden has reinstated former President Donald Trump’s policy of imposing tariffs on Chinese goods deemed unfairly traded. In the meantime, former President Trump has stated that he plans to escalate sanctions on China if reelected, underlining a renewed trend of tough U.S. action against the Chinese Communist Party (CCP). Experts believe that the United States’ tough stance against the CCP has become an irreversible trend.
President Biden said, “The Chinese rel[y] on other anticompetitive tactics as well, like forcing the American companies to transfer their technology in order to do business in China. Look, we’ll play by the same rules if you want. If you want to do business in China, you got to have a 51 percent Chinese owner, you got to provide access to all your intellectual property, et cetera. You want to do that in America?” Xi was left speechless.
President Biden also criticized the CCP’s use of cyber espionage to unfairly bolster its businesses, labeling it as “cheating” rather than fair competition. As a result, President Biden imposed tariffs on $18 billion worth of Chinese goods, encompassing various sectors including electric vehicles, steel, aluminum products, port cranes, solar cells, and certain medical products, starting this year. Additional tariffs on semiconductors are slated for 2025.
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