Biden Trade Chief Says Traditional Agreements Created Problems
- Tariff-cutting deals hurt US industrial sector, USTR Tai says
- Biden has abandoned deal talks with UK, Kenya started by Trump
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US Trade Representative Katherine Tai told lawmakers that some tariff-lowering agreements have made the US economy vulnerable, and the Biden administration wants to address the problem with a fresh approach to supply chains and commerce.
Tai, appearing before the House Ways and Means Committee on Friday, said tariff cuts and rules to meet free-trade agreement requirements have led to a de-industrialization and erosion of some US capabilities.