Washington is not seeking to decouple the US economy from China’s, US Trade Representative Katherine Tai (戴琪) said yesterday while on a visit to Tokyo.
Tai, who is on her fourth visit to Japan after being appointed the top US trade envoy, said all members of US President Joe Biden’s administration have been “very clear that it is not the intention to decouple” from China’s economy.
US trade sanctions against China are “narrowly targeted,” she said.
Photo: Reuters
Given its huge size and importance, unraveling the ties with China that keep the world economy running is “not a goal or achievable,” Tai said in a news conference at the Foreign Correspondents’ Club of Japan.
Chinese officials have often lashed out at the US over trade sanctions and other restrictions on sharing of advanced technology with China, accusing Washington of trying to “contain” China and hinder its path toward greater affluence.
Tai said that regular trade work between the US and China was continuing and she was “completely open to engaging with my counterparts in Beijing,” although she has no immediate plans to visit China.
At the same time, the US is seeking to strengthen and expand economic security cooperation with its Asian allies and partners in response to China’s growing assertiveness and its dominance in many manufacturing industries.
Security and stability of supply chains is an issue that has gained urgency after disruptions caused by the pandemic and controls imposed to try to fight outbreaks of COVID-19 resulted in shortages of computer chips and other goods.
A recent agreement on trade in critical minerals would allow electric vehicles using metals sourced or processed in Japan to qualify for tax breaks under the US’ Inflation Reduction Act.
That deal is one evidence of the US commitment to “building collective resilience and security,” Tai said.
“We have all experienced the fragility of our dispersed supply chains in recent years, especially through the pandemic and Russia’s brutal, unjustified attack on Ukraine. And we’ve become too reliant, we have discovered, on certain countries for the supply of critical minerals needed to fuel our clean energy future,” Tai said.
The Biden administration has been adopting a new approach to global trade, arguing that the US’ traditional reliance on promoting free-trade pacts failed to anticipate China’s brand of capitalism and the possibility that a major power like Russia would go to war against one of its trading partners.
Tai’s Tokyo visit follows a trip to the Philippine capital, Manila, to help fortify trade relations among the three countries as they build both economic and defense ties.
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