US and China trade tensions rise after Biden-Xi summit – Community News
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US and China trade tensions rise after Biden-Xi summit

Another Cold War Looks Like The US Places More Than A Dozen There Chinese companies on her blacklist trading, while China slows its progress in purchasing US $200 billion worth of goods by the end of the year.

This comes less than two weeks after the virtual summit between President Biden and Chinese President Xi Jinping on November 15.

“There’s a big ‘Make China Great Again’ movement in China,” Andy Puzder, the former CEO of CKE restaurants and job secretary candidate under President Trump, told FOX Business. “They make it very clear that they are not our friends. They are our competitor at best and an enemy at worst.”

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US President Biden attends a virtual meeting with Chinese President Xi Jinping in the Roosevelt Room of the White House on November 15, 2021 in Washington, D.C.

US President Biden attends a virtual meeting with Chinese President Xi Jinping in the Roosevelt Room of the White House on November 15, 2021 in Washington, D.C. (Photo by Alex Wong/Getty Images/Getty Images)

Biden and Xi have met three times since Biden took office, with the 46th president saying he will maintain the status quo by continuing Trump’s tariffs and sanctions.

The White House also indicated that trade talks would center on the Phase One Trade deal — which China is only on track to deliver about 62% of its promised purchases by the end of 2021.

“No agreements were proposed during that discussion, and there was no follow-up to that discussion,” said Max Baucus, the former US ambassador to China under President Obama. “Frankly, actions speak louder than words.”

Biden and Xi released individual statements after the summit in violation of the protocol of a joint statement showing good faith continues.

Xi struck an old note in his solo statement, saying, “The effects of the cold war are not far off.”

“I think President Xi is right that if the leaders don’t talk to each other, they’ll start taking some actions that show that by not working together, we’re headed for a cold war,” Baucus told FOX Business.

Negotiations with China are now back in the spotlight as the US navigates the supply chain crisis and the US economy recovers, which shrank by 19.2% annually after the outbreak of the COVID-19 pandemic.

Vice President Biden reaches out to Chinese President Xi Jinping (center), while former President Obama stands nearby during the arrival ceremony at the White House on September 25, 2015.

Vice President Biden reaches out to Chinese President Xi Jinping (center), while former President Obama stands nearby during the arrival ceremony at the White House on September 25, 2015. (Mark Wilson/Getty Images/Getty Images)

Earlier this month, more than two dozen US business groups sent An letter to the White House who pressured Biden to ease tariffs and sanctions, saying: “These costs, compounded by other inflationary pressures, place a significant burden on American businesses, farmers and families trying to recover from the effects of the pandemic. .”

“I think the biggest problem is that our business leaders, financial leaders and CEOs have a completely different view of China than our national security leaders,” said Jonathan Ward, author of “China’s Vision of Victory.” “They are busy building companies, they are investing in China and doing all this even as our military leaders are watching China’s massive military build-up in the Pacific.”

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Chinese President Xi Jinping, second right, and his wife, Peng Liyuan, first right, are welcomed on September 24 by Vice President Biden, third left, and his wife, first left, at Andrews Air Force Base in Washington, DC.  2015.

Chinese President Xi Jinping, second right, and his wife, Peng Liyuan, first right, are welcomed on September 24 by Vice President Biden, third left, and his wife, first left, at Andrews Air Force Base in Washington, DC. 2015. (Xinhua/Huang Jingwen via Getty Images/Getty Images)

It is now up to Biden to strike a balance between helping American companies and holding China accountable for human rights violations and intellectual property theft.

“Why should we reward China for meeting two-thirds or 62% of its obligation under phase one of this trade deal?” said Pudzer. “This is not a sensible, strategic negotiation, but this is what politicians do to win the next election. It is not what leaders try to solve problems.”

While bipartisanism has been alive and kicking in countless policy areas ranging from trade to national security, the extent to which world leaders should notify China is under debate.

“We just have to bring the issue up over and over and look for leverage. We don’t have leverage. We have to try and find it,” Baucus said.

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However, many experts believe that China will remain unaffected by any new sanctions or tariffs.

“China makes its own rules,” Ward told FOX Business. “We just have to beat them.”