Advertisement

Updated November 8th, 2021 at 15:29 IST

US-China renegotiating trade pact, finding ways to co-exist says NSA Jake Sullivan

Jake Sullivan said the conversations between China and the US not only encompass duties on products but rather about the whole spectrum of trade arrangements. 

Reported by: Anwesha Majumdar
US
Image: AP | Image:self
Advertisement

The National Security Advisor of the United States Jake Sullivan has informed a CNN broadcaster that the US has no longer been trying to change China and apart from this, the nation is searching for ways to exist side-by-side. Sullivan revealed that the US and China are currently in negotiations about the Trump trade pact. He added that the conversations not only encompass duties on products but rather about the whole spectrum of trade arrangements. 

Further clarifying the issue, US President Joe Biden's advisor stated, “The object of the Biden administration is to shape the international environment so that it is more favourable to the interests and values of the United States and its allies and partners, to like-minded democracies. It is not to bring about some fundamental transformation of China itself,” Sputnik reported.  

Jake Sullivan talks about US-China Policy

Sullivan believes that one of the shortcomings of prior approaches with policy towards China was the thought which expects the Chinese system would fundamentally change through US policy. As per Sputnik, "The goal of America's China policy is to create a circumstance in which two major powers are going to have to operate in an international system for the foreseeable future," he added. 

National Security Advisor went on to say that Washington will ensure that all these parameters would reflect the US and its partners' objectives and that it would create the "international rules of the road" to reflect their principles. 

Trade has surged between the US and China

Meanwhile, according to Sputnik, quoting the Chinese General Administration of Customs, trade and commerce between the US and China increased by 33.4% from January to October this year than in the same period in 2020. According to reports, commerce between the United States and China was $609.939 billion in the first 10 months of 2021. Furthermore, China's exports to the United States surged by 31.7% which amounts to $465.305 billion in January-October 2021. In the meantime, US exports to China increased by 39% with an amount of $144.634 billion. 

In spite of the serious trade disagreements between the two biggest economies, US-China commerce increased 8.3% last year to $586 billion.  Furthermore, China's state-run Global Times reported that economic expansion with the US reduced in October compared to the previous month of this year. The statistics were apparently provided by Chinese customs on Sunday, as the China-US phase one trade agreement continues to progress as its deadline approaches in January 2022. 

(Image: AP)

Advertisement

Published November 8th, 2021 at 15:29 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

Congress Press Conference
7 minutes ago
Virat Kohli's text to RCB owners got WPL team to unbox event
8 minutes ago
Pakistan and the IMF agree on a $1.1 billion disbursement for the debt-ridden economy.
9 minutes ago
Patna Shuklla poster
11 minutes ago
Millet
12 minutes ago
Lok Sabha Elections 2024 LIVE
19 minutes ago
IndiGo direct flight between Mumbai and Ayodhya
22 minutes ago
former dsp shailendra singh revealed criminal activity of Mukhtar Ansari
25 minutes ago
IBL Finance IPO
28 minutes ago
Federal Reserve Chair Jerome Powell
33 minutes ago
Advertisement
Advertisement
Advertisement
Whatsapp logo