As the previous two On Point columns chronicle, a Biden-Harris Administration likely would forge an ‘Enlightened Trade Policy’, the tools of which would be consensus and integrity, and the goals for which would be peace and sustainability. Now let’s consider what would this policy mean for India.
As the global economy tumbles over the COVID-19 crisis, the U.S and China are still entangled in a trade dispute. Recently, the World Trade Organization ruled that U.S. tariffs on Chinese products violate international law. However, some predict that Trump’s trade policy toward China will continue to stay on course. The U.S. continues to put high pressure on Chinese companies such as Huawei, while China has released its blacklist of American companies in retaliation.
HUTCHINSON, Kan. — A trade law professor at the University of Kansas notes that managed trade agreements are now common practice regardless of who the partner is.
On the verge of the second wave of the Covid-19 pandemic, which led all countries to rethink the location of key national security industries, the trade war entered a new phase. The pandemic has caused, at least ostensibly, the EU-China summit planned by the German European Presidency not to take place. But a wildcard event took place - a videoconference at a time when both Beijing and Brussels were waiting for the election in the United States.
The previous ‘On Point’ column identified a core issue the world trading system is asking: if the Joe Biden - Kamala Harris ticket prevails in the November elections, what will U.S. trade policy look like? That column suggested the manner and style of the approach a Biden administration could take, to rebuild widespread consensus and reintroduce integrity that comes with plain-speaking.
Across America and around the globe, businesses, governments, international organisations, and academic institutions are wondering what U.S. trade policy would look like under a Joe Biden-Kamala Harris administration. So, far, there’s not much direct or circumstantial evidence. Foreign policy accounted for under 3% of Biden’s Aug. 20 Democratic National Convention speech and was absent from Senator Harris’ speech the previous evening. The Democratic Platform is bromidic on trade.
Nearly three-quarters of a century after Britain partitioned India effective Aug. 15, 1947, modern Indian politicians faced a challenge the country’s Founding Fathers could not have foreseen: rewriting India’s trade laws and policies. Jawaharlal Nehru, Mohandas K Gandhi, and BR Ambedkar thought laterally across multiple disciplines. Today’s leaders include shrewd technocrats with Hindu nationalist
KU Law Professor Raj Bhala discusses the escalation of U.S.-China tensions on a segment of Arirang TV. Bhala, an international trade expert, appears on screen between 13:05-17:42. Arirang TV is Korea's largest and most prominent English language station.
- With the trade body brought to a standstill by the US-China trade row, much will depend on whether the nominee can break the deadlock, Chinese government adviser says
- Beijing will also be looking at each contender’s stand on national security exemptions, analyst says
Beijing is likely to favour an African candidate for the top job at the World Trade Organisation (WTO) as US-China trade tensions drive the body into dysfunction, according to an adviser to the Chinese government and observers.
The legal structure of the World Trade Organization has prevented President Donald Trump from fulfilling his promise to kick China out of the trade body, but his administration has taken aim at the organization in other ways.
On the campaign trail in 2016, Trump pledged to reverse "China's entry into the World Trade Organization," which he called one of the "worst legacies of the Clinton years."