Sen Grassley's labors over US-China trade imbalance
10 Feb '06
2 min read
The growing Sino-US trade imbalance set to cross the $200 billion a cause for concern with the Trade Administration as well as with the Chairman of the Committee on Finance, Senator Chuck Grassley.
Sen Grassley has convened a hearing to examine Administration's Trade Agenda in which Ambassador Rob Portman, United States Trade Representative will be the sole witness.
The hearing is scheduled for Thursday, February 16, 2006, at 10:30 am at 215, Dirksen Senate Office Building, Washington DC.
The official release states:
Sen. Chuck Grassley, Chairman of the Committee on Finance, with jurisdiction over international trade, will convene a hearing to hear testimony from Ambassador Rob Portman, United States Trade Representative, on the Bush administration's trade agenda for the coming year.
Grassley said particular issues of interest to the committee include China's compliance with World Trade Organization commitments and the status of the administration's top-to-bottom review of US trade policy with respect to China, pending trade agreements, and the status of the Doha round tradenegotiations in the World Trade Organization.
Growing trade imbalance notably stems from US imports in record numbers of Chinese textiles and apparels that have jumped in certain categories over 1500 percent in 2005 over 2004.
Beside, last year witnessed a very troubled trade relationship between the two countries as restrictions were mulled in case of Chinese textiles that were amicably settled with a trade agreement fixing the rates of imports till 2008.
marketing@alchempro.com
