The US-China Business Council commends the Trump administration for the implementation of the US-China Phase One trade agreement, which has already led to improvements—particularly in agriculture, intellectual property protection and financial services—for our member companies. Continuing to ensure full implementation of the Phase One trade agreement is necessary to regain momentum in the bilateral commercial relationship in the wake of a pandemic.
We will be releasing the findings of our second survey on USCBC members’ sentiment toward Phase One later this month.
President Trump’s recent remarks imply the United States may withdraw from the Phase One agreement if China fails to purchase $200 billion over the next two years. With only two full months of implementation to date, in the midst of an unprecedented global health crisis, there has not been sufficient time to assess China’s delivery of several commitments, annual purchase targets included.
“It would be extremely destabilizing if the president pulled out of the agreement without giving the Chinese a chance to meet their commitments,” said Craig Allen, president of USCBC. “So far, China seems to be operating in good faith and has sought no modifications to its purchase commitments despite its ability to request them.”
“Significant care was put into negotiating the agreement’s dispute resolution mechanism—it was intended to secure a durable agreement able to withstand temporary discord in the US-China relationship” said Allen. “USCBC encourages USTR to leverage the dispute resolution mechanism if it finds China is not faithfully implementing its commitments.”
USCBC and the business community look forward to supporting “phase two” negotiations to address issues like market-distorting subsidies for state-owned enterprises, the regulation of data, and equal treatment for US and other foreign companies. We are deeply concerned that withdrawing from Phase One will delay progress on these important structural issues.
Doug Barry ([email protected]; 202-429-0340)
张莉沛 ([email protected]; 86-10-6512-5854)
美中贸易全国委员会与商界支持且期待 “第二阶段” 协议的谈判，尤其解决扰乱市场秩序的国有企业补贴问题、数据监管、以及平等对待外商投资企业等议题。我委员会深切担忧退出第一阶段协议将延误解决上述重要结构性问题的进展。