The U.S. Trade Representative acknowledges that Asia needs to “correct its course”

The U.S. Trade Representative acknowledges that Asia needs to “correct its course”



The U.S. Trade Ambassador acknowledged that the U.S. needs to make “route revisions” in the Asia-Pacific region because Washington tried to re-establish its status as an economic superpower after withdrawing from Donald Trump’s trade agreement.

During her visit to Tokyo, U.S. Trade Representative Catherine Day directly responded to the request of the Japanese Foreign Minister to lead the United States back to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which is the successor of the Trans-Pacific Partnership (TPP).

But in an exclusive interview with the Financial Times on Thursday, Dai Guotai elaborated on the way the United States plans to strengthen partnerships without joining regional agreements.She believes that there are other structures that can better cope with challenges, rather than Trade agreement Negotiations eight years ago.

Dai said that at the stage when China is more confident, the focus of her visit is to make Japan and other partners feel the “persistence” of the US trade policy.

“The purpose of this is to complete the route correction,” she said when asked if she was correcting credibility deficiencies in the Asia-Pacific region.She added that for the United States Allies in the area, Is obliged to provide “our trade policy with persistence and will gain broad political support”.

Dai added, “It is a real opportunity for the United States to cooperate with our partners here on the challenges we face from China’s non-market policies and industrial policies.”

US President Joe Biden tried to strengthen his country’s relations with Asian allies in response to China’s rising economic and military power.

During her visit to Tokyo, or Agreed to establish a new bilateral trade partnership with Japan. Neither party revealed the details of the transaction. People close to the governments of the two countries believe that this is a manifestation of the political sensitivity of the United States around trade.

Analysts said that even if the Biden administration believes that there is no better option than joining the CPTPP, domestic pressure means that it cannot reach a regional trade agreement.

Japanese trade officials said that the focus of Dai Bingguo’s trip seems to be to draw boundaries in the Trump era. The Japanese side stated that the new bilateral framework is the United States’ response to Japan’s request for the United States to participate more in the Indo-Pacific region.

Dai also described this partnership as a platform to solve problems such as the post-Covid recovery and the climate crisis, which are outside the scope of existing regional trade agreements.

“We really have a lot to do and talk about. The challenges in the global economy are hitting us quickly and fiercely. There is no time to waste. I think these structures will be very valuable for us to strengthen our relationship,” she Say.

Dai’s visit included stays in South Korea and India, and occurred nearly four years after the US abruptly withdrew from the TPP, although it played a central role in the creation of the TPP.After its collapse, TPP was replaced by CPTPP, which now attracts applications from both parties China with Taiwan.

Dai said that the global and regional situation—especially those related to the environment and post-epidemic recovery—is very different from when the original 12-person partnership was negotiated eight years ago.

“At this moment, we are still working hard to achieve a truly strong economic recovery and working hard [to come] Get out of the epidemic. .. These are the most pressing issues and are most relevant to our partnership and our commitment to the region,” she said.

Dai’s comments coincided with people’s growing concerns about the robustness of the supply chain, resource security, and whether the combination of these issues will accelerate the “decoupling” of China from other economies in the Asia-Pacific region.


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