US Trade Representative Katherine Tai (戴琪) is scheduled to unveil a long-awaited strategy for her country’s troubled trade relationship with China in a speech on Monday at a Washington think tank, her office said.
Tai will deliver remarks on her review of China trade policy at the Center for Strategic Studies in Washington, and participate in a session to answer questions, Tai’s office said in a statement on Thursday.
Since taking office in March, Tai has been conducting a thorough review of Washington’s China trade policy.
US President Joe Biden has kept in place tariffs on hundreds of billions of dollars of Chinese imports imposed by former US president Donald Trump, but his administration has so far revealed little about how it will address what it calls China’s non-market trade and subsidy practices.
Tai’s speech on Monday would mark the start of the final three months of a “Phase 1” trade deal that Trump struck with Beijing at the start of 2019, easing a tariff war between the world’s two largest economies. It called for China to increase purchases of US energy, services and manufactured goods, by US$200 billion until the end of this year, compared to 2017 levels.
Biden administration officials say that China has not met the Phase 1 terms, and the US intends to hold China to its international trade commitments.
Chad Bown, a senior fellow at the Peterson Institute for International Economics in Washington, estimates that China’s purchases of US exports through August are running at about 62 percent of the Phase 1 targets, based on US data.
Tensions between the two economic powers has also grown as the US has restricted Chinese companies’ access to sensitive US technologies.
Tai has asked the US Congress for new trade law tools to counteract massive Chinese state subsidies for high-technology sectors.
The Biden administration has sought to rally US allies to join Washington in confronting what it says are abusive trade policies by Beijing. US and EU officials met on Wednesday in Pittsburgh to deepen protection of sensitive technologies and address challenges posed by “non-market economies” — a reference to China.
In Italy’s storied gold-making hubs, jewelers are reworking their designs to trim gold content as they race to blunt the effect of record prices and appeal to shoppers watching their budgets. Gold prices hit a record high on Thursday, surging near US$5,600 an ounce, more than double a year ago as geopolitical concerns and jitters over trade pushed investors toward the safe-haven asset. The rally is putting undue pressure on small artisans as they face mounting demands from customers, including international brands, to produce cheaper items, from signature pieces to wedding rings, according to interviews with four independent jewelers in Italy’s main
Japanese Prime Minister Sanae Takaichi has talked up the benefits of a weaker yen in a campaign speech, adopting a tone at odds with her finance ministry, which has refused to rule out any options to counter excessive foreign exchange volatility. Takaichi later softened her stance, saying she did not have a preference for the yen’s direction. “People say the weak yen is bad right now, but for export industries, it’s a major opportunity,” Takaichi said on Saturday at a rally for Liberal Democratic Party candidate Daishiro Yamagiwa in Kanagawa Prefecture ahead of a snap election on Sunday. “Whether it’s selling food or
CONCERNS: Tech companies investing in AI businesses that purchase their products have raised questions among investors that they are artificially propping up demand Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Saturday said that the company would be participating in OpenAI’s latest funding round, describing it as potentially “the largest investment we’ve ever made.” “We will invest a great deal of money,” Huang told reporters while visiting Taipei. “I believe in OpenAI. The work that they do is incredible. They’re one of the most consequential companies of our time.” Huang did not say exactly how much Nvidia might contribute, but described the investment as “huge.” “Let Sam announce how much he’s going to raise — it’s for him to decide,” Huang said, referring to OpenAI
The global server market is expected to grow 12.8 percent annually this year, with artificial intelligence (AI) servers projected to account for 16.5 percent, driven by continued investment in AI infrastructure by major cloud service providers (CSPs), market researcher TrendForce Corp (集邦科技) said yesterday. Global AI server shipments this year are expected to increase 28 percent year-on-year to more than 2.7 million units, driven by sustained demand from CSPs and government sovereign cloud projects, TrendForce analyst Frank Kung (龔明德) told the Taipei Times. Demand for GPU-based AI servers, including Nvidia Corp’s GB and Vera Rubin rack systems, is expected to remain high,
RSS