Washington Update

January 8th, 2014
Erin Ennis

The Obama administration today formally nominated Senator Max Baucus (D, MT) to be the next US Ambassador to the People’s Republic of China. Once confirmed, Baucus will succeed Ambassador Gary Locke, who has served in the position since 2011.
 
Baucus has been actively engaged on trade issues during his three decades in the Senate, particularly in his role as chairman of the Senate Finance Committee, and has traveled eight times to China to discuss trade and commercial issues. He...

November 8th, 2013
Stephanie Henry

Today the US-China Business Council (USCBC) said that China has made important progress in opening-up its market since acceding to the World Trade Organization (WTO) in 2001, but still has many challenges left to address in order to achieve a fair and equitable market-place for foreign investors. 

In written testimony to the interagency Trade Policy Staff Committee, USCBC stated that while China is often in compliance with the letter of its WTO commitments, it falls short of the...

October 31st, 2013
Stephanie Henry

The US Treasury Department declined to label China a currency manipulator in its latest Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, released on Wednesday, but acknowledged China’s currency remains “significantly undervalued.” In its report, Treasury noted that China's real exchange rate has appreciated 12 percent against the US dollar since June 2010, and by 45 percent against the dollar since 2005. However, the report states that there is “evidence...

October 9th, 2013
Stephanie Henry

The Senate US-China Working Group, co-chaired by Senator Mark Kirk (R-IL) and Senator Mazie Hirono (D-HI), met on Tuesday with China Ambassador Cui Tiankai to discuss the bilateral commercial and economic relationship, as well as military cooperation and people-to-people exchanges. In a statement on the meeting, Senator Kirk announced that the working group – which will be formally launched this fall – will serve as a forum for dialogue between the Senate and Chinese government leaders....

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