U.S. business groups ask Biden to restart trade talks with China

WASHINGTON — Practically three dozen of the nation’s most influential enterprise teams—representing retailers, chip makers, farmers and others—are calling on the Biden administration to restart negotiations with China and reduce tariffs on imports, saying they’re a drag on the U.S. financial system.

The tariffs on electronics, attire and different Chinese language items, that are paid by U.S. importers, have been saved in place partly to make sure that China fulfills its obligations underneath its 2020 Section One commerce pact with the U.S.

In a Thursday letter to U.S. Commerce Consultant Katherine Tai and Treasury Secretary Janet Yellen, the enterprise teams contend that Beijing had met “necessary benchmarks and commitments” within the settlement, together with opening markets to U.S. monetary establishments and decreasing some regulatory boundaries to U.S. agricultural exports to China.

“A worker-centered commerce agenda ought to account for the prices that U.S. and Chinese language tariffs impose on Individuals right here and at residence and take away tariffs that hurt U.S. pursuits,” the letter stated, referring to the administration’s coverage to make employee pursuits a precedence.

The commerce teams embrace a few of Washington’s most influential huge enterprise associations, together with the U.S. Chamber of Commerce, the Enterprise Roundtable, the Nationwide Retail Federation, the American Farm Bureau Federation and the Semiconductor Business Affiliation.

An expanded version of this report appears on WSJ.com.

Additionally common on WSJ.com:

Apple plans to have iPhones detect child pornography, fueling privacy debate.

China’s corporate crackdown is just getting started. Signs point to more tumult ahead.

https://www.marketwatch.com/story/u-s-business-groups-ask-biden-to-restart-trade-talks-with-china-11628215210?rss=1&siteid=rss | U.S. enterprise teams ask Biden to restart commerce talks with China

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