News Snapshot:
U.S. tariffs on Chinese goods provide a key element of leverage over Beijing, something Washington should be reluctant to relinquish, the top U.S. trade official said Wednesday. Progress with China’s unfair trade practices has been elusive, making tariffs an important tool, US Trade Representative Katherine Tai told lawmakers. “The China tariffs are, in my opinion, a significant piece of leverage and a trade negotiator never steps away from leveraged financing,” she said in testimony before the Senate Appropriations Committee. “The United States has repeatedly sought and obtained commitments from China, only to find that lasting change remains elusive,” she added....
