21-November-2024
Corporate News
 
Congressional panel recommends toughing US-China trade relationship
20-Nov-2024

A congressional panel has recommended that the US toughen its trade relationship with Beijing, pushing to roll back a nearly 25-year-old decision that helped bring about China's rapid economic growth but that many in Washington now see as hurting US interests. In its annual report to Congress released on Tuesday, the US-China Economic and Security Review Commission called for the first time for ending permanent normal trade relations with Beijing. It echoes moves by prominent Republican lawmakers -- including Sen Marco Rubio, President-elect Donald Trump's pick for secretary of state -- as the trade war with China is expected to intensify under the incoming administration. The change would mean the US reintroducing annual reviews of China's trade practices and gaining more leverage to address "unfair trade behaviours", the commission said in the report.

News Source:- https://www.business-standard.com/world-news/congressional-panel-recommends-toughing-us-china-trade-relationship-124112000045_1.html