News Snapshot:
WASHINGTON: Rather than pressuring China to change its “unfair” trade practices, US Trade Representative (USTR) Katherine Tai said Wednesday the economy would better served by policies to encourage domestic manufacturing. In a four-hour hearing before the House Ways and Means Committee, President Joe Biden’s trade chief acknowledged that Washington’s strategy of imposing massive tariffs on Beijing-which began under former president Donald Trump-has had little to no effect on its policies. “That has not incentivized China to change,” she said. “It is very clear to us, I think, collectively, that we can’t keep doing what we have been doing.” Washington has...
