This week, the Biden administration announced the imposition of tariffs on imported Mexican steel and aluminum, with the target mainly being Chinese inputs into these products.

At a Council on Foreign Relations event today, Under Secretary of the Treasury for International Affairs Jay Shambaugh offered comments on "Chinese Overcapacity and the Global Economy."

At a think tank event this week, two Biden administration officials offered views on AI competition with China and export controls being used in conjunction with this.

A proposed rule issued by the U.S. Treasury Department provides additional details on an Executive Order issued by President Biden last year relating to U.S. investment in China in several sectors with a close connection to the development of military technology.

In a speech to the Economic Club of New York last week, Treasury Secretary Janet Yellen reiterated that she is not in favor "decoupling" from China, but that China's high savings and overcapacity are a problem for the Biden administration.

At the G7 meetings held in Italy over the past few days, issues related to China were one of the key topics, with the trade language reiterating points made in the past, including the impact of Chinese policies on U.S. investments in strategic sectors.

U.S. Trade Representative Katherine Tai commented on China-U.S. trade relations yesterday, emphasizing the importance of international rules on labor standards, environmental protections, and anti-monopoly provisions.