In remarks to reporters on Tuesday, Liu Pengyu, the spokesperson for the Chinese Embassy in Washington, mentioned that the tariffs violated world commerce guidelines, dragged down the worldwide financial restoration and would in the end harm U.S. companies and shoppers.
The Russia-Ukraine War and the Global Economy
“The Biden administration will not terminate tariffs on China, but is preparing to launch a new Section 301 investigation,” he mentioned. “Facts have proved that a tariff war cannot solve the core issue of China-U.S. economic and trade frictions, nor will it truly balance U.S. foreign trade. It will only drive up inflation in the U.S. and increase the cost of living for ordinary American consumers and families.”
The report additionally mentioned that Russia was posing numerous challenges, together with copyright infringement and trademark counterfeiting, however the capability of the administration to elevate and resolve these mental property points had been severely restricted by Russia’s invasion of Ukraine and the following efforts by the United States and its allies to isolate Russia from the worldwide financial system. The United States is monitoring latest proposals by Russia to strive to counter worldwide sanctions by permitting its corporations to violate mental property rights held within the United States, Europe and different nations which have imposed sanctions on Russia, the report mentioned.
It additionally expressed considerations with the European Union’s “aggressive promotion” of geographical indications, or guidelines that require items to be from particular areas so as to use sure product names. Rules that limit the use of frequent names for merchandise, like Parmesan or feta cheeses, impose obstacles for U.S.-made items and stay “highly concerning,” the U.S.T.R. mentioned.
The workplace mentioned it might additionally conduct a particular overview of Bulgaria’s practices to assess whether or not it had made progress with investigating and prosecuting on-line piracy circumstances. It eliminated some nations from a watch checklist, saying they’d made progress on bettering rights, together with Kuwait, Saudi Arabia, Romania and Lebanon.
Katherine Tai, the commerce consultant, mentioned in an announcement that the administration would proceed to interact with commerce companions to handle shortcomings, and that mental property safety was key to greater than 60 million American jobs.
“We need robust protection and enforcement in foreign countries to protect these individuals, their livelihoods, and ensure they can fairly compete in the global marketplaces,” Ms. Tai mentioned.