Biden Trade Curbs Helped Stop Another China Shock, Sullivan Says
- Sullivan cites ‘give and take’ with allies over China curbs
- He contrasts ‘targeted’ tariffs with across-the-board duties
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National Security Adviser Jake Sullivan defended US subsidies for domestic industry and curbs on China, amid warnings from the International Monetary Fund that trade barriers pose a mounting risk to global growth.
The Biden administration’s restrictions on technology exports and financial support for investments in clean energy were necessary “to prevent a second China shock,” Sullivan said Wednesday at the Brookings Institution in Washington, referring to the loss of US manufacturing jobs in the early 2000s as companies shifted output to China. “We’ve had to act.”