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Free AccessBiden-Xi Call Maintains Support For "One-China," No Mention Of Tariffs
The White House has released a readout of the call between President Biden and his Chinese counterpart Xi Jinping which took place this morning and lasted 2 hours and 17 minutes.
- White House: "The call was a part of the Biden Administration’s efforts to maintain and deepen lines of communication between the United States and the PRC and responsibly manage our differences and work together where our interests align."
- WH: "The two presidents discussed a range of issues important to the bilateral relationship and other regional and global issues, and tasked their teams to continue following up on today’s conversation, in particular to address climate change and health security."
- WH: "On Taiwan, President Biden underscored that the United States policy has not changed and that the United States strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait."
- The readout, notably, makes no mention of Trump-era tariff cuts, despite speculation is may have been broached.
- The Chinese readout of the call states that "the world expects China and the US to take the lead in upholding world peace and security..."
- According to the Chinese Ministry of Foreign Affairs, Xi underscored that for the US to view China as "the primary rival and most serious long term challenge" would be "misperceiving US-China relations and misreading China's development."
- This is a direct response to the wording of the new NATO security concept that was unveiled at the NATO summit, in Madrid, in June, and identified China as the primary threat to the "rules based order."
- According to the Chinese readout, Xi was also forceful on the issue of Taiwan. "...both sides of the Taiwan Strait belong to one and the same China."
- "China firmly opposes separatist moves towards Taiwan independence" and "interference by external forces."
- This appears to be an implicit reference to the planned trip to Taiwan by US House Speaker Nancy Pelosi (D-CA) but is not explicitly referenced by either readout.
- The Chinese readout claims that "both Presidents viewed the call as candid and in-depth and agreed to stay in touch and instructed teams to keep up communication and cooperation."
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.