onsdag 25. november 2020

Trump’s tariffs could give Biden ‘leverage’ over China, former White House trade negotiator says

President Donald Trump’s trade tariffs have created “leverage” that the incoming Biden administration could use to get the outcomes it wants on the international stage, said former top White House trade negotiator Clete Willems. Trump slapped elevated tariffs on major trading partners such as China, Canada and the European Union for what he said were unfair practices that disadvantaged American companies. His moves raised tensions between the U.S. and other countries, as well as triggered a trade war with China that weighed down the global economy.

Several trade experts have said that President-elect Joe Biden will likely favor working with allies over slapping punitive tariffs to settle international disputes. But some experts have said Biden may not remove tariffs that Trump has imposed.

“Whether you love the tariffs or hate the tariffs, they have created leverage for United States. (The) United States has raised important questions about the multilateral system, and I hope that this (Biden) administration would use that leverage to get outcomes,” Willems told CNBC’s “Street Signs Asia” on Wednesday.