Upon entering office in January 2021, President Biden inherited from his predecessor Donald Trump a contentious relationship with China, along with many unprecedented trade concerns. This article provides an overview of the Biden Administration’s approach to the U.S.-China trade relationship to date and the implications of these policies for Korean businesses. The article begins with a brief discussion of the respective domestic interests influencing trade policies in the United States and in China. Next, the article summarizes a range of U.S. trade issues, including legislation, tariffs, export controls, sanctions, and investment restrictions, among others. This section highlights how – despite taking different approaches – the Biden and Trump Administrations share many of the same goals with respect to China. The article concludes with a discussion of how these recent U.S. policies targeting China have impacted Korea.
Keywords : China, Biden, Xi Jinping, Phase One Agreement, Chinese Military-Industrial Complex Companies List, Export Controls, CFIUS, ICTS Regulations, Section 301, Section 232, Supply Chains, Taiwan, Hong Kong, Human Rights, Investment Decoupling
