The Biden administration appears to be taking a cautious path to reviewing its relations with China, particularly in regards to tariffs put in place under the Section 301 program. Initial meetings between the U.S. Trade Representative and Commerce Secretary with their counterparts in China have been overshadowed by President Binde’s updated investment embargoes and a new Chinese asset seizure plan. In the near-term the administration has shown a continued insistence of the legality of the tariffs and refrained from applying a renewed exemption program. That’s led to a long-term reduction...