The United States and China wrapped up three days of commercial negotiations in Chicago yesterday, making progress on competition policy, intellectual property rights (IPR), and product approvals in agriculture and medical devices.
China Market Intelligence
In November, Chinese and US negotiators surprised the global business community by announcing an end to a standoff over high-technology tariffs. In agreeing to move forward with the World Trade Organization’s (WTO) Information Technology Agreement (ITA), China paved the way for the slashing of tariffs on items from semiconductors to video game consoles.
US President Barack Obama concluded a constructive three-day visit to China earlier today with announcements of new bilateral deals on a range of issues important to US companies doing business in China, including a significant change in visa policy, reduced tariffs for trade in information technology products, and new targets related to climate change.
US governors are heading to China in increasing numbers to seek potential investors for public and private projects. Since 2009, US governors have led 58 trade missions to China, helping to usher in more than $34 billion in direct investment over the past five years.
Amid a slowdown in China’s economy and tension between the United States and China on a variety of issues, US and Chinese negotiators are preparing for the upcoming sixth annual Strategic & Economic Dialogue (S&ED) taking place in Beijing in early July.
The US-China Business Council (USCBC) will recommend solutions to foreign investment, intellectual property, and administrative licensing issues in China in a yearly submission to US government trade talk representatives this week.
The Obama administration yesterday formally nominated Senator Max Baucus, D-MT, to be the next US Ambassador to the People’s Republic of China. Once confirmed, Baucus will succeed Ambassador Gary Locke, who has served in the position since 2011.
As reported by USCBC just prior to the holidays, US and Chinese senior government officials concluded the 2013 plenary session of the US-China Joint Commission on Commerce and Trade (JCCT) on December 20 in Beijing with agreements on a range of intellectual property