Grassley joins effort to highlight U.S. trade issues with China Senator Chuck Grassley is urging the Obama administration to focus on resolution of ongoing trade and related disputes at the U.S.-China Strategic & Economic Dialogue.
BigNews.Biz - May 04,2012 - Grassley joins effort to highlight U.S. trade issues with China
WASHINGTON -- Senator Chuck Grassley is urging the Obama administration to focus on resolution of ongoing trade and related disputes at the U.S.-China Strategic & Economic Dialogue.
This dialogue began in 2006 as a framework for the two countries, which represent the largest and second-largest economies in the world, to discuss economic issues.
Grassley signed a letter sent yesterday to the four cabinet secretaries participating in the meeting. The letter said, “As China’s new leaders assume their positions during the remainder of this year and into 2013, and with our own general elections approaching in the fall, we must all convey a common message that the economic progress and success of both the United States and China depends upon China adopting policies that promote fair competition, a level playing field, the rule of law, and open markets. We cannot simply wait and hope China will do the right thing, even if it is in its own interest. We must insist upon it.”
The senators who signed the letter are Republican members of the Senate Finance Committee, which has jurisdiction over international trade policy. Here is the full text of the letter:
May 2, 2012
The Honorable Timothy Geithner
Secretary of Treasury
U.S. Department of Treasury
1500 Pennsylvania Ave., N.W.
Washington, D.C. 20220
The Honorable Hillary Clinton
Secretary of State
U.S. Department of State
2201 C Street, N.W.
Washington, D.C. 20520
The Honorable John Bryson
Secretary of Commerce
Herbert Clark Hoover Building
1401 Constitution Ave., N.W.
Washington, D.C. 20230
The Honorable Ron Kirk
U.S. Trade Representative
Office of the U.S. Trade Representative
600 17th Street, N.W.
Washington, D.C. 20508
Dear Secretaries Geithner, Clinton, and Bryson and Ambassador Kirk:
The upcoming Strategic & Economic Dialogue (S&ED) in China must achieve results and resolve ongoing commercial issues between our two countries in order to lay the foundation for a balanced and mutually beneficial U.S.-China economic relationship. As each country approaches a time of political transition, this week’s meetings will set the tone of the debate and the scope of ambition to address long-standing trade and investment disputes between the largest and second-largest economies in the world. The stakes could not be higher, and the Obama Administration’s track record on China policy could not be more mixed.
We write you to highlight the critical importance of setting a new path that will anchor our economic relationship upon a level commercial playing field, a commitment to play by the rules, and a rebalancing of trade and investment between the United States and China. During the Obama Administration’s term in office, the list of unresolved commercial issues continues to grow, while concrete and commercially meaningful successes have been few and far between.
We strongly urge you to use the S&ED meetings in China to convey our serious concerns that China continues to embrace economic nationalism and industrial planning to the detriment of American businesses as well as to the detriment of China’s own economy. For the