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Tai sets out trade policy as expected, exports the more pressing issue

Ags - Grains/Beans 275 Ags - Meat/Dairy 230 China 2799 Cons. Discr. - Autos 1061 Cons. Discr. - Durables 425 Consumer Staples 695 Energy - Conventional 423 Energy - Crude Oil 287 Industrials - Capital Goods 539 Tariffs 1728 Trade Balance 907 Trade Deals 951 U.S. 5005

President Biden’s nominee for U.S. Trade Representative, Katherine Tai, has confirmed much of the administration’s trade policy in their Senate Finance Committee testimony. The administration will “dynamically work on a vision for where we take the U.S.-China trade relationship” and will enforce the phase 1 trade deal. New trade deals are not a short-term priority including with the EU or the CPTPP where “a lot has changed in the world in the past five or six years”. While much of Tai’s job will involve enforcing trade rules, including USMCA, the bigger issue for the economy currently is...

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