FX.co ★ Biden to continue trade war with China

The United States may have changed the country leader but it has resorted to the rhetoric adopted by the former president. Thus, the new Commander in Chief, Joe Biden, does not plan to end the trade war with China.

"We need to take on China's abusive, unfair, and illegal practices. China's undercutting American companies by dumping products, erecting trade barriers, and giving illegal subsidies to corporations. It's been stealing intellectual property and engaging in practices that give it an unfair technological advantage, including forced technology transfers," Treasury secretary Janet Yellen announced the stance taken up by President Biden’s team.

In response to China’s constant trade violations, the White House is planning to introduce new sanctions and tariffs. Given such threats, trade tensions between the top global economies will only escalate. In fact, the US will not act single-handedly. According to Janet Yellen, the new administration is going to reestablish its relations with allies that deteriorated severely under Trump's rule.