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Rabu, 24 Februari 2021

RPT-Biden trade czar Tai eagerly awaited in Washington and Brussels - Yahoo Finance

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By David Lawder and Andrea Shalal

WASHINGTON, Feb 23 (Reuters) - Katherine Tai, President JoeBiden's pick to revamp U.S. trade policy to focus on workers and"ordinary Americans" over corporations, will get a chance toexplain what that will mean in practice at her confirmationhearing on Thursday.

Tai's testimony before the Senate Finance Committee has beenanxiously awaited for months by industry, U.S. trading partnersfrom Beijing to Brussels, labor groups and lawmakers - all in along queue to lobby Tai as soon as she is confirmed.

As U.S. trade representative, or trade "czar," for theworld's largest economy, biggest importer of goods and secondlargest exporter after China, Tai will wield immense clout,especially after four years of trade turmoil sown by formerPresident Donald Trump.

Tai, the top trade lawyer for the House of RepresentativesWays and Means Committee, is seen as a tireless and unflappablenegotiator, deeply knowledgeable about China, who recently wonpraise for getting tougher labor and environmental standardsadded to the U.S.-Mexico-Canada trade deal.

She has been guarded about her specific plans, but industryofficials and congressional aides say one thing is clear - shewill add labor concerns to the equation.

In January, Tai told the National Foreign Trade Council thatU.S. trade policy must be "worker centric," focusing on peopleas wage earners and not just consumers - a key message repeatedoften by other top Biden economic policy experts.

In Geneva, the U.S. delegation recently spoke up withconcerns about Myanmar's record of violating labor rights andusing forced labor - a statement administration officials sayreflects an increased focus on workers at home and abroad.

The incoming director of the World Trade Organization, NgoziOkonjo-Iweala, said Biden's trade officials agree with her aboutthe need to make trade relevant to everyday people to rebuildconfidence in the global trade body and the global economy.

While Britain, Kenya, Japan and others are clamoring for newor expanded trade deals, the Biden administration has put anynew negotiations on hold until after a comprehensive review ofall Trump trade policies.

For now, Tai will focus on enforcing existing trade deals,including provisions aimed at protecting workers that sheherself helped add to the U.S.-Mexico-Canada trade deal.

One European official said Brussels was waiting to see howTai will implement Biden's pledge to rebuild ties with allies.

"We hope to start seeing the first signs of how she willmake this happen. And of course: putting disputes to bed ASAP,"the official said, referring to tariffs on steel and aluminum,and aircraft, and digital services taxes that Trump put in placeor threatened.

"Her job ... will be to reassure the senators she’s going tobe tough on the other countries that are taking advantage ofus," said William Reinsch, a trade expert at the Center forStrategic and International Studies in Washington. "She will beexpected to take a hard line on China," he said.

Senate Finance Committee Chairman Ron Wyden has pledged tomove Tai's nomination quickly, which means she could get aSenate vote by next week or the following week, making her theearliest USTR confirmed in the job since the early 1990s.

Harry Broadman, managing director at Berkeley ResearchGroup, said the huge interest in Tai's hearing reflected thegrowing importance of trade to the U.S. economy. "It's a sign ofthe times. People are very eager to get her on board," he said.

Ken Monahan, trade policy chief for the National Associationof Manufacturers, said he expects Tai would play a key role inshaping trade policy, in consultation with Treasury SecretaryJanet Yellen, national security adviser Jake Sullivan andSecretary of State Antony Blinken.

"When it comes to trade actions and negotiations, I have nodoubt that Katherine will be in the driver's seat," he said.(Reporting by David Lawder and Andrea Shalal; Editing by LeslieAdler)

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RPT-Biden trade czar Tai eagerly awaited in Washington and Brussels - Yahoo Finance
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