AMTAC tells US Govt to warn China on market access if rules not followed
21 Apr '06
3 min read
American Manufacturing Trade Action Coalition (AMTAC) insist on U.S. government to take full advantage of Chinese President Hu Jintao's visit to Washington, D.C. to communicate to China that if it does not stop using predatory trade practices China will be penalized with reduced access to the U.S. market.
"The U.S. trade deficit of $202 billion with China is unsustainable economically in both the short and long term for domestic U.S. manufacturing," said AMTAC Executive Director Auggie Tantillo.
"Manipulated currency, non-performing loans made by Chinese state-run banks, intellectual property theft, and other state-sponsored subsidies are the driving forces behind the job-destroying U.S. trade deficit with China," added Tantillo. "We estimate that the $202 billion U.S. trade deficit with China displaced almost 277,000 U.S. jobs in 2005 alone."
"The only way for the United States to dig itself out of this hole is to use access to the U.S. market as leverage to get China to play by the rules," Tantillo stressed. "If China does not want to do that, they should not expect to receive the same level of access to the U.S. market that they have now."
"You cannot have a market where domestic U.S. companies must abide by free-market rules while Chinese companies are free to cheat with impunity. Such an arrangement is unsustainable because it gives Chinese exporters an enormous competitive advantage and it undermines both the rule of law and the confidence of U.S. manufacturers in the U.S. government," continued Tantillo.
marketing@alchempro.com
