My analysis below
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initial steps we will take to re-align our trade policies towards the PRC around OUR priorities:"
First, we will discuss with China its performance under the Phase One Agreement. China made commitments that do benefit certain American industries, including agriculture that we must enforce. President Biden will continue to promote our economic interests – and build confidence for American industry.
Hot air. Chian can keep discussing with you till the end of time when necessary. It will be the year 2420 and China can keep "discussing" with you lol
Anyway, IMO a good signal that they want to communicate.
Second, while pursuing Phase One enforcement, we will restart our domestic tariff exclusions process to mitigate the effects of certain Section 301 tariffs that have not generated any strategic benefits and raised costs on Americans. We will ensure Section 301 tariffs align appropriately with our economic priorities like boosting American workers’ wages and job opportunities, securing the resilience of critical supply chains, sustaining our technological edge, and protecting our national security interests.
That a straight up retreat but whatever..
Another good signal that they want to talk with China. There is room here for negotiations between China and the US for mutual win-win
Third, we continue to have serious concerns with the PRC that were not addressed in the Phase One deal, specifically related to its state-centered and non-market trade practices including Beijing's non-market policies and practices that distort competition by propping up state-owned enterprises, limiting market access, and other coercive and predatory practices in trade and technology.
Nobody cares about US "serious concerns". It has been talking about them since 2000. Nothing new here, thats the standard diplomatic/economic speech that the US always does
Even as we work to enforce the terms of Phase One, we will raise our broader concerns with Beijing's non-market policies and practices like abuse of state-owned enterprises, anti-competitive behavior and subsidies, the theft of American intellectual property directly and in coordination with our allies and partners. We will defend American economic interests using the full range of tools we have and by developing new tools as needed.
"Allies and partners" whatever. The EU will maybe agree with the US on some issues against China, but expect this to be a long-term thing. Lets first wait to see what will happen in the midterms and the 2024 Elections..
As for new tools, another medium/long-term thing
And lastly, we know that we cannot do it alone. We will continue consulting and coordinating with allies and partners who share our strong interest in ensuring that the terms of competition are fair, work collectively to set the rules of the road for trade and technology in the 21st century, and strengthen the global market for our workers and businesses.
"Allies and partners" again. See my previous point about the EU.
To conclude, non-confrontation, but lots of room for negotiating with China. The US has been recently sending positive signals for engaging with China (excluding AUKUS...)
This trade deal might be the where US-China can start talking again and then gradually build up from there (yes, I am an optimist)