Recently, US Treasury Secretary Biden has shown a subtle change in his remarks during the Sino-US trade negotiations.

He posted on a social media platform that the third round of Sino-US talks has promoted dialogue between the two sides, and he believes both sides are already capable of reaching an agreement. He even called China "a great country" and specifically added, "this will be an agreement that benefits both great countries."

Yet, just a day earlier, he was complaining in a media interview about China's tough negotiation stance, emphasizing that the US would not easily make concessions.

Additionally, after the third round of talks, the US Treasury Secretary also threatened China, stating that if it continued to purchase Russian oil, the US would impose penalties, such as three-digit tariffs, in an attempt to force China to make concessions.

Now, from the new statements by the US Treasury Secretary, it appears that the US has a more urgent need to reach an agreement with China.

After all, the US economy is facing many challenges, and the debt crisis is imminent. The tariff policy continues to place pressure on domestic businesses and consumers.

Meanwhile, China has firmly refused to comply with the US's threatening actions. Therefore, the current state of the US is to apply pressure while simultaneously sending signals of easing tensions. This precisely illustrates that the US is neither willing to lower its stance nor can it withstand the real pressures and must push for an agreement.

At the same time that the US Treasury Secretary seemed to be sending signals of easing tensions, a systemic crisis related to Sino-US trade erupted within the US.

According to Reuters, several sources revealed that the US Department of Commerce's Industrial and Security Bureau, responsible for export license approvals, has fallen into a semi-paralyzed state due to internal management chaos, resulting in a severe backlog of thousands of export applications, including those for goods and technologies exported to China.

Among these, the most attention-grabbing is the license for NVIDIA's export of chips to China.

Remember, NVIDIA announced in mid-July that the Trump administration had promised to issue a license for its H20 artificial intelligence chips to be exported to China. However, as of now, the license remains unissued.

Additionally, the chairman of the US-China Trade Council publicly revealed that there are billions of dollars worth of export applications for semiconductor manufacturing equipment that have been stalled, forcing many companies to adjust their production plans.

What worries him even more is that the delay in approvals is pushing Chinese enterprises to accelerate the search for alternative solutions. During this period, many Chinese enterprises have already reached new cooperation agreements with domestic suppliers and partners in other countries.

This means that if the US continues to delay export approvals, it will lose more market share in China.

For this, the chairman of the US-China Trade Council expressed concern, emphasizing that the longer the US delays the approval of export licenses, the more it will lose.

This statement is clearly a "warning" to the Trump administration, reminding it to quickly lift the export restrictions, otherwise, American companies will be at a more disadvantageous position in global market competition.

It is worth noting that the frequent adjustments to the US export control policies are the root cause of this approval chaos.

In the past, the US repeatedly revised the rules for exporting products such as artificial intelligence chips and semiconductor equipment, leaving the approval staff confused. In some cases, they found themselves in a vacuum where the new regulations were not fully understood, and the old ones had already expired.

This policy of constant changes not only disrupts the stability of the global supply chain but also harms the interests of American companies themselves.

To some extent, this also reflects the contradictions in the US policy level. While the Trump administration is sending signals to "relax restrictions," it is still encountering obstacles in the specific implementation process.

This policy inconsistency has left those handling the tasks confused. Since the new regulations have not yet been fully understood, and the old ones are no longer valid, it naturally leads to chaos.

Original article: https://www.toutiao.com/article/7533890092050498082/

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