Ways & Means to Hold Oct 25 Hearing on U.S.-China Economic Relationship
House Ways and Means Committee Chairman Camp (R-MI) has announced that the committee will hold a hearing on the U.S.-China economic relationship on October 25, 2011. The hearing will provide an opportunity for the Administration to explain its response to China’s trade-distorting practices and non-tariff barriers.
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In announcing this hearing, Chairman Camp said, “The President and his Administration should continue to press China to open its markets through every available avenue. And when China has violated its international obligations, the U.S. must aggressively enforce its rights.” Chairman Camp states that he looks forward to “hearing the Administration’s plan for addressing China’s persistent barriers to U.S. exports and investment and exploring what should be done to ensure American employers and workers are treated fairly.”
Outstanding Issues Include Indigenous Innovation, Currency, IPR, Etc.
According to the Committee, there are a number of longstanding issues that have caused friction between the U.S. and China including subsidies that distort competition; lack of regulatory transparency; currency misalignment and a closed capital account; harmful “indigenous innovation” policies; failure to adequately protect intellectual property; and many other barriers to U.S. exports and investment.
(See ITT’s Online Archives 11072810 for summary of Camp’s statement that he planned to address China trade abuses in fall 2011.
See ITT’s Online Archives 11101212 for summary of Senate passage of currency bill (S. 1619) .
See ITT's Online Archives 11021083 for summary on the introduction of House China currency bill (H.R. 639).)
Hearing announcement available here