Business Groups Pressure Biden to Restart Trade Talks with China

More than 30 of the nation's most influential business groups are calling on Biden to restart trade negotiations with China and cut tariffs on imports. 

The groups include some of the most influential big business associations, including the U.S. Chamber of Commerce, the Business Roundtable, the National Retail Federation, the American Farm Bureau Federation and the Semiconductor Industry Association. 

The tariffs on electronics, apparel and other Chinese goods were kept in place to make sure China fulfills its duties under its 2020 Phase One trade pact with the U.S., according to the Wall Street Journal.

In a letter to U.S. Trade Representative Katherine Tai and Treasury Secretary Janet Yellen Thursday, the groups urged that China had met “important benchmarks and commitments” in the agreement. 

“A worker-centered trade agenda should account for the costs that U.S. and Chinese tariffs imposed on Americans here and at home and remove tariffs that harm U.S. interests,” the letter said. 

Following the letter, a spokesman for Tai said they are “conducting a robust, strategic review of our economic relationship with China to create effective policy that delivers results for American workers, farmers and businesses.” 

While they indirectly acknowledged that China is behind its commitment to increase purchases by $200 billion over two years, they argued that the U.S. should start negotiating as well. 

“There is more work to be done by both governments to ensure that China meets its existing purchase agreements,” the letter reads. “We want to express our support for continued engagement with China on trade and economic issues.” 

“We also recognize that fully resolving tariffs is unlikely, absent substantially more progress by China on core issues,” it continued.