March 29, 2021 8:10am
Updated: March 29, 2021 9:22am
U.S. Trade Representative Katherine Tai says the Biden administration has not immediate plans to lift the trade tariffs impose on China by President Trump.
Tai told The Wall Street Journal she acknowledges the negative economic impact the tariffs are having on some sectors of the U.S. economy, including businesses and consumers, but said the tariffs also protect American companies from foreign competition and area tactical leverage against China.
“China is simultaneously a rival, a trade partner, and an outsized player whose cooperation we'll also need to address certain global challenges,” Tai said in her confirmation hearing in February, according to Forbes.
Tai's interview comes After Biden gave his first formal press conference last Thursday, where he mentioned his thoughts on U.S. China relations.
“I see stiff competition with China. China has an overall goal ... to become the leading country in the world, the wealthiest country in the world, and the most powerful country in the world," Biden said. "That’s not going to happen on my watch."
Trump placed tariffs on around $350 billion on Chinese goods three years ago, according to CNN.