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Crs Report for Congress : China-U.S. Trade Issues: November 3, 2004 - Ib91121 download PDF, EPUB, Kindle

 

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Crs Report for Congress : China-U.S. Trade Issues: November 3, 2004 - Ib91121. Wayne M Morrison

Crs Report for Congress : China-U.S. Trade Issues: November 3, 2004 - Ib91121
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Author: Wayne M Morrison
Page Count: 22 pages
Published Date: 10 Oct 2013
Publisher: Bibliogov
Publication Country: United States
Language: English
ISBN: 9781293024881
File size: 46 Mb
Download Link: Crs Report for Congress China-U.S. Trade Issues November 3, 2004 - Ib91121
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U.S.-China economic ties have expanded substantially over the past several years. Total U.S.-China trade rose from $5 billion in 1980 to $181 billion in 2003. China is now the third largest U.S. trading partner, its second largest source of imports, and its sixth largest export market. With a huge population and a rapidly expanding economy, China is becoming a large market for U.S. exporters. Yet, U.S.China commercial relations have been strained by a number of issues, including a surging U.S. trade deficit with China ($124 billion in 2003), China's restrictive trade barriers, failure to provide adequate protection for U.S. intellectual property rights (IPR), and its refusal to float its currency. After 15 years of negotiations, China joined the World Trade Organization (WTO) on December 11, 2001. China's entry into the WTO requires it to significantly reform its trade regime by eliminating or reducing an extensive array of tariff and non-tariff barriers on goods, services, and foreign investment. The removal of these barriers could result in significant new opportunities for U.S. exporters. Many Members of Congress have called on the Bush Administration to closely monitor China's compliance with its WTO commitments. In December 2003, the U.S. Trade Representative (USTR) issued its ...

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