SIMIC

In a letter sent to US Treasury Secretary Janet Yellen and US Trade Representative Katherine Tai on Thursday, nearly 30 major business groups, from the agriculture to the semiconductor and pharmaceutical sectors, said China "has met important benchmarks and commitments that benefit American businesses, farmers, ranchers, and workers".

It said extra work was also needed to ensure China's full implementation of the phase one trade deal, which the two countries signed in January last year.

"We support the Biden administration holding China accountable to its phase one commitments, and we strongly urge the administration to work with the Chinese government to increase purchases of US goods through the remainder of 2021 and implement all structural commitments of the agreement before its two-year anniversary on February 15, 2022," the business groups said.