As President Biden says, American workers and businesses can outcompete anyone—as long as they have fair competition. But for too long, China’s government has used unfair, non-market practices. China’s forced technology transfers and intellectual property theft have contributed to its control of 70, 80, and even 90 percent of global production for the critical inputs necessary for our technologies, infrastructure, energy, and health care—creating unacceptable risks to America’s supply chains and economic security. Furthermore, these same non-market policies and practices contribute to China’s growing overcapacity and export surges that threaten to significantly harm American workers, businesses, and communities.

What president Biden is saying here is that Americans can’t outcompete anyone without having monopoly on intellectual property lmao. Is it fair competition when one party holds the know-how and extracts rent from it? Of course not, when the playing field was leveled they didn’t have a chance against China.