In early October, United States Trade Representative Katherine Tai delivered a speech at the Center for Strategic and International Studies (CSIS) outlining a new approach by President Joe Biden's administration to the U.S.-China bilateral trade relationship.

“We need to be prepared to deploy all tools and explore the development of new ones,” Tai stressed, although she did not elaborate.

Tai said that while Biden welcomes competition with China, he believes it is necessary to ensure that it is a healthy competition.