NAM task force discusses China trade relations with senior administration officials
Adjust font size:
Manufacturing News, Source : The Manufacturer US
Published : 10 May 2007 16:42
The National Association of Manufacturers’ US-China Business Relations Task Force met this week with senior administration officials, including Treasury Secretary Henry Paulson, Commerce Secretary Carlos Gutierrez, and US Trade Representative Susan Schwab. “These discussions are more important than ever, given the new Congress,” said NAM President John Engler following the meetings.
“Despite strong efforts from the Administration on a variety of issues, the US-China trade deficit continues to widen,” said Michael E. Campbell, president and CEO of Arch Chemicals and chairman of the Task Force. “We voiced our concerns on how to best deal with this issue, notably pressing for faster appreciation of the yuan in this month’s Strategic Economic Dialogue and further enforcement of international agreements.
“The necessary appreciation of China’s currency has not occurred,” he said. “The degree of the yuan’s undervaluation is evidenced by China’s buildup of foreign currency reserves, which recently have now grown to $50 billion per month, for a total of $1.2 trillion.
“Secretary Paulson understands that patience is growing thin not just on Capitol Hill but on the shop floors of American manufacturing plants,” he continued. “We told him we recognize that Congress cannot legislate Chinese exchange rates, but we can legislate our own taxes to begin leveling the playing field.
“The Administration has taken enormous strides to accelerate the pace of enforcement over the past few months,” Campbell said. “The Commerce Department’s announcement of the application of countervailing duties to Chinese subsidies is a positive move. We complimented Secretary Gutierrez for making this strong anti-protectionist move to address China’s illegal subsidies.
“Likewise, Ambassador Schwab should be commended for filing three cases in the WTO,” he said. “She understands the need to level the playing field, notably in enforcing intellectual property rules and eliminating subsidies.”
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...