久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Op-Ed Contributors

Will Biden return to the trade tables of Asia-Pacific?

By Shen Minghui | chinadaily.com.cn | Updated: 2021-03-24 11:57
Share
Share - WeChat
[SHI YU/CHINA DAILY]

China has become the first country to ratify the Regional Comprehensive Economic Partnership agreement, the Ministry of Commerce said on Monday. With Thailand, too, ratifying the trade deal and the 13 other RCEP member states stressing they will ratify it before the end of this year to ensure it goes into effect on Jan 1, 2022.

Many cannot ask what approach the Joe Biden administration will adopt toward the largest regional trade deal, especially former president Barack Obama took a "pivot to Asia" policy.

The Biden administration is considering $3 trillion in spending on improving infrastructure, fighting climate change and reducing economic inequities, after approving a $1.9 trillion coronavirus relief package this month. This shows Biden has given top priority to economic recovery.

Therefore, Biden may see the trade policy as part of a bigger economic policy. He signed the "Made in America" executive order in January to leverage the US' purchasing power, strengthen domestic manufacturing and create markets for new technologies, which suggests he is more focused on enhancing US industries' global competitiveness and exploring more overseas markets compared with his predecessor Donald Trump. Moreover, the Department of Commerce has said that 39 million jobs can be created in the US by boosting international trade and 12 million by increasing investment. And several US departments will work together to achieve the goals.

The Biden administration is paying more attention to international rules and the US' alliance with other economies, which is a clear break from Trump's go-it-alone approach. In particular, the Biden administration seems intent on burying Trump's "America first" policy and instead rebuilding the US' Asian and European alliances, and restoring its influence on regional and multilateral trade. Biden is also paying greater attention to environmental protection, climate change and workers' rights.

However, the US' domestic and international trade policies are inconsistent, probably because blue-collar workers are the main supporters of Biden. On Feb 1, Biden re-imposed 10 percent duty on aluminum imports from the United Arab Emirates — which Trump had removed just one day before leaving office — ostensibly to tell workers' unions that he has taken a tough stance on trade. This means the Biden administration, while claiming to deepen cooperation with its allies, is strengthening some of the trade protectionism measures to suit certain groups, which incidentally will limit the extent of cooperation between the US and other economies.

The Trans-Pacific Partnership agreement was the brainchild of former US president Barack Obama and included 12 countries. In its original format, the deal — inked in 2016 — would have been the world's largest trade agreement, covering nearly 40 percent of the global economy. But Trump pulled the US out of the TPP soon after being sworn in 2017, forcing the remaining 11 countries to renegotiate and sign the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in March 2018.

Yet Biden is unlikely to negotiate any trade deal with Asia-Pacific economies in the near future, because he needs to first focus on domestic issues such as the novel coronavirus pandemic, economic recession and rising racism.

The first priority of Biden therefore is to boost economic recovery, perhaps through new stimulus plans and infrastructure construction. But for that too, the administration needs a strong trade agenda to support the economic recovery.

Also, election politics is preventing the US from joining the CPTPP or initiate new mega FTA negotiations with other economies. In the 2016 presidential election, battleground states such as Pennsylvania, Ohio and Michigan that are against the liberalization of trade, played a key role in Trump's victory. In last year's election, those states reminded Biden of their protectionist agenda. As such, Biden has pledged to discuss the new trade policy carefully, and his administration will not start any trade negotiations before strengthening environmental protection and securing workers' rights.

Besides, the Trade Promotion Authority, or fast-track authority that gives the president the power to negotiate international trade deals expeditiously and limited congressional oversight, will expire in July 2021. If the TPA is not renewed, getting any new deal passed by Congress could be an uphill task for the administration. The Congress had given both Obama and Trump the TPA, and Trump used it to sign the United States-Mexico-Canada Agreement.

So rather than "rejoining the CPTPP", Biden may prefer to negotiate new FTAs with the original TPP member economies. But even if the US joins the CPTPP, it cannot get much concrete benefits given that Democrats and Republicans in the Congress hold different views on trade.

The two trade deals between European and Asia-Pacific countries supported by Biden as Obama's vice-president did not end well, so many US politicians are skeptical about free trade negotiations. In fact, the US president's stance on trade has veered toward moderation in the two months he has been in office. So it is safe to say the US may not join the CPTPP anytime soon and the trade deal is unlikely to greatly influence the trade structure in the Asia-Pacific region.

The author is a researcher at National Institute of International Strategy, Chinese Academy of Social Sciences.

The views do not necessarily reflect those of China Daily.

If you have a specific expertise and would like to contribute to China Daily, please contact us at [email protected], and [email protected].

 

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 美女毛片在线看 | 国产成人精品实拍在线 | 国产伦子伦视频免费 | 99精品一区二区免费视频 | 三级伦理网站 | 亚洲精品一二三四区 | 国产精品yjizz视频网一二区 | 成人免费观看永久24小时 | 国产在线手机视频 | 久久aa毛片免费播放嗯啊 | 97久久免费视频 | 韩国成人毛片aaa黄 韩国福利一区 | 国产综合精品久久久久成人影 | 日本一区二区三区免费视频 | 天堂av影院 | 亚洲午夜成激人情在线影院 | 久久久久久免费观看 | 看片日韩 | 成年午夜一级毛片视频 | 夜色邦合成福利网站 | 日本一级特黄aa毛片免费观看 | 欧美三区在线观看 | 日韩欧美在线精品 | 在线网站黄色 | 亚洲免费在线观看视频 | 久久国产成人精品国产成人亚洲 | 国产精品黄 | 国产成人综合网在线播放 | 精品国产自在在线在线观看 | 一级白嫩美女毛片免费 | 日本午夜高清视频 | 免费观看a级毛片在线播放 免费观看a级网站 | 久久久一本精品99久久精品66 | 日本手机在线视频 | 国产成人教育视频在线观看 | 精品国产一区二区三区2021 | 亚洲一区二区三区四区在线 | 国产免费久久精品99 | 免费播放巨茎人妖不卡片 | 欧美做暖小视频xo免费 | 亚洲区精品久久一区二区三区 |