USCBC in the News
“It’s critically important that the two sides have a stable, predictable and mutually beneficial trade agreement and investment agreement, also technology and scientific exchange,” Allen told Xinhua in an interview via video on Monday. “I would encourage fulsome bilateral communication and collaboration across the whole scheme of things,” Allen said. “It requires an enormous amount of attention, not only at the top level but at many levels of our respective governments.”
According to a report commissioned by the US-China Business Council in January, the trade war has cost the US 245,000 jobs, while lowering tariffs on both sides by 2025 would create 145,000 jobs. According to Oxford Economics, the US GDP will be reduced by $1.6 trillion over the next five years due to a "substantial decoupling" of the economies.
America is seeing an unprecedented number of Bills in Congress that are aimed at China – not just a recent high but at least a three-decade high, Ms Anna Ashton, the vice-president of global affairs at the US-China Business Council, told The Straits Times. According to the council’s tracking, at least 317 China-related legislative proposals have been introduced since the start of the 117th Congress in January this year. This puts it on track to exceed the volume of such legislation introduced by the...