U.S. Trade Representative Rob Portman reveals the results of a top-to-bottom review of U.S.-China Trade Policy at a news conference.
U.S. - China Trade Relations: Entering a New Phase of Greater Accountability and Enforcement, is the first comprehensive statement of U.S. trade policy towards China since it joined the WTO in 2001.
The report was provided to Congress this morning with a cover letter from Ambassador Portman to the Chairmen and Ranking Members of the Senate Finance and House Ways and Means Committees. In this letter, he outlined his objective of closer collaboration with Congress on U.S.-China trade policy.
"Despite three consecutive years of growing U.S. exports to China, bilateral trade relationship with China today lacks equity, durability and balance in the opportunities it provides," said Ambassador Portman. "The time has come to readjust trade policy with respect to China."
"As a mature trading partner, China should be held accountable for its actions and required to live up to its responsibilities, including opening markets and enforcing intellectual property rights," Portman said. "We will use all options available to meet this challenge."
The Top-to-Bottom review assesses the benefits and challenges in U.S-China trade following China's first four years of membership in the World Trade Organization, as China nears the end of its transition period as a new member. The review reflects the input of Congress, China experts, industry, public testimony and other U.S. government agencies.
U.S. Trade Representative
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