USCBC Statement on This Week's Negotiations in Beijing

In response to the White House’s statement about this week’s negotiations in Beijing, US-China Business Council (USCBC) President Craig Allen said:

“We’re pleased to hear confirmation that the governments are working on a memorandum of understanding (MOU). We’ve called for progress on the substantive issues at the heart of the trade dispute; mutually-agreed upon outcomes in an MOU would be a way to do that. However, our members want an agreement that includes measurable, commercially meaningful outcomes. Any substantive agreement must also include a plan of action as progress is made to reduce and ultimately remove the tariffs that both sides have imposed. It’s excellent that the two sides are drafting specific language in the form of an MOU. This process is not abstract and any agreement must be detailed, enforceable, time-bound, and result in market-access improvements that have a meaningful impact for American companies, workers, and farmers." 
“We’re also pleased that the high-level negotiations will continue next week in Washington. There are two weeks left before the United States’ March 1 deadline to increase tariffs, so this level of engagement is appropriate and will hopefully enable the necessary breakthroughs to address the substantive issues that the business community agrees need to be resolved.”