Biden’s trade candidate seeks ‘aggressive’ action against China

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(Bloomberg) – The United States must take “aggressive” action to tackle China’s “unfair” trade practices while GossipMantri in American manufacturing to return production to the country, said Gina Raimondo, the candidate for the United States. President Joe Biden to Secretary of Commerce.

“We need to make sure that American workers and manufacturers can compete fairly on the global playing field,” said Raimondo, who has served as governor of Rhode Island since 2015, in remarks prepared Tuesday for his confirmation hearing before the committee of the Senate commerce. “We need to invest in innovation and technology in our manufacturing sector and take aggressive trade action to tackle unfair trade practices from China and other countries.”

His comments echo those of other Biden officials, who have indicated they will continue some of Donald Trump’s sweeping economic policies toward China, though they have so far omitted details. Last week, Treasury Secretary Janet Yellen said the United States was “ready to use the full range of tools” to tackle actions such as “the dumping of products, the erection of trade barriers and the ‘granting illegal subsidies to companies’.

Raimondo and his team will inherit numerous enforcement actions against Chinese tech companies. Specifically, the Trump administration instituted an export ban for Huawei Technologies Co. that requires U.S. companies to obtain government licenses before being allowed to sell U.S. technologies and intellectual property to the Chinese telecommunications equipment giant. .

Raimondo’s stated goal of “redirecting” factory jobs to the United States echoes Trump, though his goal has proven elusive. Manufacturing jobs in the United States stood at 12.3 million in December, little change from four years earlier. Two decades ago, that figure exceeded 17 million.

Raimondo, 49, has held public office in her home state since 2011, when she was sworn in as state treasurer. Previously, she spent over a decade working in venture capital, most notably co-founding Point Judith Capital.

The Department of Commerce is made up of various bodies, including the Census Bureau, which conducts the decennial count and compiles economic data; the International Trade Administration, responsible for monitoring unfair global competition due to dumping and subsidies, as well as enforcing US trade laws; the National Oceanic and Atmospheric Administration, headquarters of the National Weather Service; and the United States Patent and Trademark Office.

Raimondo was the national co-chair of Michael Bloomberg’s 2020 presidential campaign. Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.

© 2021 Bloomberg L.P.

© Bloomberg. Gina Raimondo, Governor of Rhode Island, speaks during a panel discussion at the Goldman Sachs 10,000 Small Business Summit in Washington, DC, United States on Tuesday, February 13, 2018. Goldman's 10,000 small businesses are an investment that offers economic opportunities and helps entrepreneurs to create jobs by providing better access to education, capital and business support services.

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