US, China BIT Poised to Shield US Investors, Subsidies Not Likely to be Included
A U.S.-China Bilateral Investment Treaty (BIT) will limit the Chinese government from discriminating against U.S. companies in some of the 100 industry sectors China currently shields from fair foreign investment access, said Erin Ennis, vice president of the U.S.-China Business…
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Council in a an op-ed for Barron’s (here). Those sectors cross the industry spectrum, from manufacturing to agriculture. BITs "curb governments’ ability to require American companies to meet burdensome conditions to operate in their markets,” said Ennis. The deal will not cover Chinese subsidy or procurement policies, said Ennis. U.S. and Chinese trade officials continue to negotiate the pact, and President Barack Obama, alongside Chinese counterpart Xi Jinping, pledged in November to unveil a list of sectors covered by the treaty in early 2015 (see 1411120008). The two sides are currently meeting in Chicago for the Joint Commission on Commerce and Trade, but those talks don’t cover the BIT.