USCBC Press Statement
FOR IMMEDIATE RELEASE
Contact in Washington, DC:
Doug Barry ([email protected]; 202-429-0340)
Contact in Beijing:
Lipei Zhang ([email protected]; 86-10-6512-5854)
WASHINGTON, DC, October 11, 2019 – USCBC is pleased the United States and China have reached a tentative phase one trade agreement today, which was accompanied by a suspension of the prospective US tariff increase set for October 15. USCBC members hope that with progress made on this set of issues, sufficient confidence will be restored to enable other important issues to be addressed and resolved in subsequent phases to include market-distorting subsidies for state-owned enterprises and equal treatment for US and other foreign companies.
“This is an encouraging first phase,” said USCBC President Craig Allen. “We await word on how implementation will be measured and in what time-frame, as well as details on scheduling subsequent phases,” Allen said.