On behalf of all of us at the US-China Business Council, we would like to thank our event sponsors and member companies for their generous support of USCBC’s 45th Anniversary Gala and Tribute to President George H.W. Bush held on December 5, 2018 at the Ritz-Carlton Washington, DC.

USCBC Chair Evan Greenberg and President Craig Allen served as senior hosts. Nearly 450 leaders from the business, government, diplomatic, and think tank communities were in attendance. China’s top envoy to Washington, DC, His Excellency Cui Tiankai, was among the distinguished guests.

Ambassador Carla A. Hills, this year’s USCBC honoree, received a standing ovation from Gala attendees in recognition of her enduring contributions to bilateral and multilateral trade and investment agreements which have facilitated and expanded regional and global trade for decades. USCBC Chair Greenberg recognized Ambassador Hills as one of the country's leading foreign policy experts for her service in two presidential cabinets, first as Secretary of the Department of Housing and Urban Development for President Gerald R. Ford and then as the United States Trade Representative for President George H. W. Bush. In her brief remarks, Ambassador Hills reminded us of the late President Bush’s dream that the United States and China will “continue working together toward a full partnership and friendship that will bring peace and prosperity to people everywhere,” and emphasized the need for positive engagement in the bilateral relationship now more than ever.

In lieu of a physical gift, USCBC made a monetary donation on behalf of Ambassador Hills to the US-Asia Institute’s Szymanski Rule of Law Exchange Program. Funds will be used to support the immersion program for top Chinese and American law students and future leaders in each other’s legal systems.

USCBC President Allen highlighted the important role the US-China Business Council plays in advocating for American business in China. While these may be turbulent times, we are dedicated and committed to bilateral engagement, mutual respect, compromise, and peaceful resolution of differences; “the trade and investment relationship between our two countries has always been the foundation upon which the bilateral relationship rests.”

During Ambassador Cui’s remarks on outcomes of the G-20 meeting and perspectives for future US-China relations, he stated: “Let us work together to build an even stronger foundation for our future relations…to borrow a favorite phrase of the late President Bush, our relations will have ‘ceiling and visibility unlimited.’”

Photos from the event are forthcoming on the official photographer’s website: bit.ly/USCBC18. High definition electronic files or prints may be ordered directly from this site. If you plan to use the images for commercial purposes, please contact Kaveh Sardari directly ([email protected]) to discuss the copyright agreement.

USCBC looks forward to continuing to support our members and promote stronger US-China commercial relations in 2019. Please know that our staff in Washington, DC, Beijing, and Shanghai are ready to assist you with your China-related needs.

Special thank you to our Gala 2018 corporate sponsors that pledged their support:

Leadership:
Chubb, Walmart, Inc., Xcoal Energy & Resources

The US-China Business Council hosted a discussion with Edward McNicholas, Partner and co-leader of Sidley’s Privacy and Cybersecurity practice, and Stephenie Gosnell Handler, Senior Associate in Hogan Lovells’ Cybersecurity and International Trade and Investment practices. The event covered the evolving US-China cybersecurity landscape, recent regulatory developments, and how national security concerns are impacting the US-China commercial relationship. 

China started rolling out cyber and data protection reforms in 2017, with the most recent set of rules outlining the government’s broad supervision and inspection authorities going into effect November 1. The US has recently moved to strengthen government review of foreign investment through the CFIUS process and export control procedures with an increasing focus on critical technologies, data protection, and cybersecurity. In the context of on-going trade tensions, the panel spoke about what these regulatory reforms mean for US businesses, what some of the main pitfalls are, and how companies should ensure compliance and prevent risk.

In a recent report, S&P Global discussed the impact of the trade war on US and China’s economies and the harmful effects of tariffs for US consumers and export dependent industries. S&P Global’s Chief Economist Paul Gruenwald provided USCBC members with insights into those findings, and China’s policy toolkit for managing the trade war and the issues of evaluating trade strictly through trade deficit. Mr. Gruenwald was also joined by Josh Green, co-founder of Panjiva, who gave his take on the data trends in global supply chains. 

The US-China trade tensions recently escalated with the US announcement of its decision to impose additional tariffs on $200 billion worth of Chinese imports and China’s response of imposing retaliatory tariffs on $60 billion of US goods. Compared to the first two rounds of tariffs under Section 301, the third round of tariffs, which took effect on September 24, affect a much wider range of US industries. USCBC hosted an event with member companies to discuss the implications of the tariffs for businesses and share views of the US tariff exclusion process. Speakers of the event included Eric Emerson, Partner at Steptoe & Johnson, and Brenda Jacobs, Counsel at Sidley Austin, who offered their expertise on these issues.