U.S. Treasury Secretary Janet Yellen told CNBC on Thursday (Feb. 18) that the United States will temporarily maintain the tariffs imposed by the former Trump administration on Chinese goods, but will assess how to proceed after a thorough review.
Yellen said: “For now, we’re keeping the tariffs imposed by the Trump Administration …… We will assess what is the appropriate course of action.” Yellen added that Washington expects Beijing to keep its commitments on trade.
Yellen said:We are evaluating what the approach to China should be, but on a range of issues, we have seen unfair approaches from Beijing.”
She cited concerns about China’s behavior on trade, forced technology transfers and subsidies to high-tech industries, stressing her desire to ensure that China meets its international obligations in these areas.
Asked if the tariffs were working, Yellen said, “We’ll look at it.”
According to a recent study, China pledged to buy an additional $200 billion in U.S. goods and services over two years under a tentative agreement signed by Trump in January 2020, but Beijing is still 42 percent short of last year’s target.
President Joe Biden has vowed to mend ties with U.S. allies but has been tough on China, warning this week that Beijing will pay the price for its human rights abuses.
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