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(Reuters) - Sino-U.S. ties will stay tense as U.S. President Joe Biden is unlikely to rush into new deals with the world’s second largest economy or reduce tariffs on China, even if he is willing to re-engage with multilateral trade, economists and strategists said.
U.S. President Joe Biden salutes while boarding Air Force One as he departs for Washington from Newcastle, Delaware, U.S., February 8, 2021. REUTERS/Joshua Roberts
Following former president Donald Trump’s “America First” stance, the Biden administration has a “Buy American” policy for federal procurement.
That means continued tensions, Rashmi Banga, senior economist at the United Nations Conference on Trade and Development, told the Reuters Global Market Forum.
Sino-US ties will stay tense as US President Joe Biden is unlikely to rush into new deals with the world s second largest economy or reduce tariffs on China, even if he is willing to re-engage with multilateral trade, economists and strategists said. Following former president Donald Trump s America First stance, the Biden administration has a Buy American policy for federal procurement. That means continued tensions, Rashmi Banga, senior economist at the United Nations Conference on Trade and Development, told the Reuters Global Market Forum. She predicted the United States would not change its policies in the ongoing tech rivalry with China, which has a large global footprint in digital technology and services.