Oil prices slip on concerns about oil demand and rise in gasoline stocks (SPY +0.3%). Weekly jobless claims higher than expected by 16,000.
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The U.S.-China Trade War Isnt Over Yet When former U.S. President Donald Trump ascended into the Oval Office in January 2017, he kicked off his presidency by investigating unfair trade practices in China as part of his America First policy. A year later, he imposed hefty tariffs on a wide range of goods from the Asian nation, sparking outrage and retaliatory tariffs from its trading partners. A year ago, Washington and Beijing inked the Phase One Trade Deal whereby Beijing committed to importing an extra $200 billion worth of American goods over the next two years, incl
WASHINGTON, D.C. (NAFB) – Politico says trade policy will move front-and-center this week as the Senate Finance Committee considers Biden’s nominations for the U.S. Trade Representative and the number two Treasury official.
Wally Adeyemo is the nominee for Deputy Treasury Secretary, and Katherine Tai is the USTR nominee. How the Biden Administration will handle China in the wake of a trade war will be a key issue for both nominees.
As the nation’s top trade negotiator, Tai would be responsible for reviewing the tariffs that Donald Trump put into effect on China and other nations. She would also be responsible for the Phase One Trade Deal that China has yet to live up to. Adeyemo will help lead the administration’s review of sanctions on Chinese leaders and firms that Trump put in place because of Beijing’s human rights abuses.
US-China trade war: phase one trade deal largely a ‘failure’, as purchases fall well short of targets
China and the US signed their phase one trade deal in January 2020, with China committing to buy US$200 billion more goods and services over the next two years
According to a report by the Peterson Institute for International Economics, US exports of phase one goods in 2020 fell more than 40 per cent short of the target
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Sputnik International
China’s hardening nationalism and global ambitions are the most significant foreign policy challenges facing President-elect Joe Biden, but his top defense and economic appointees will require a lot of on-the-job .01/17/2021 1:59:14AM EST.