U.S. Manufacturers Urge China Trade Deal That Avoids Tariffs
(Bloomberg) -- The time is ripe for the Trump administration to strike a trade deal with China that doesn’t involve imposing tariffs, according a group representing America’s largest manufacturers.
With trade talks between the U.S. and China set to resume Wednesday, the National Association of Manufacturers, which for months has been calling for a bilateral deal, listed its priorities for any agreement. The three-point framework calls for ending Chinese anti-competitive activities, protecting U.S. intellectual property and raising standards for regulatory practices.
“With the president’s demonstrated commitment to engage China on its well-established trade abuses and cheating, there is no better time to get the right deal done to curb these practices,” Jay Timmons, the group’s president and chief executive officer, said in a statement.
David Malpass, U.S. Treasury undersecretary for international affairs, and Chinese Vice Commerce Minister Wang Shouwen are due to meet from Wednesday for the first face-to-face trade discussions held by the two sides since June to avert an escalating trade war.
The U.S. Chamber of Commerce, the largest U.S. business lobby, and the Business Roundtable also have made recommendations for a deal that include expanding near-term market access for U.S. exporters and investors and ensuring that foreign investors are treated no less favorably than Chinese companies.
“The business community stands ready to vigorously tout progress should China choose to move forward with a package of timely and meaningful reforms that creates greater parity in the relationship and addresses the legitimate concerns,” Jeremie Waterman, president of the chamber’s China Center, said in a statement.
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