Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. US-China economic relationship ‘unbalanced’: USTR >
  5. US-China economic relationship ‘unbalanced’: USTR

Online Export Import Data Search

Complete Training Video : Click Here

US-China economic relationship ‘unbalanced’: USTR.


Date: 19-06-2019
Subject: US-China economic relationship ‘unbalanced’: USTR
The economic relationship of the US with China has been “unbalanced” and “grossly unfair” to Americans, a top Trump administration official told lawmakers Tuesday and listed out the steps being taken to address the challenge. The Trump administration has used section 301 to investigate the unfair trade practices in China, US Trade Representative Robert Lighthizer said during a Congressional hearing on Chinese trade practices convened by the Senate Finance Committee.

“We believe our economic relationship with China has been unbalanced and grossly unfair to American workers, farmers, ranchers, and businesses for decades. As many members know, after an exhaustive process, we put tariffs on certain Chinese products and are preparing to do more if certain issues cannot be resolved satisfactorily,” he said.

Responding to questions, Lighthizer rued previous administrations did not put enough efforts to address the problem posed by China. “We think we had an untenable situation with China, one that should have been addressed frankly a couple of decades ago. It’s a long history of them violating the norms of intellectual property… and not keeping promises,” he said.

“So, we are in a position where we view ourselves as having the most serious problem you can face in the trade space with nothing less than jobs of our children on the line and if you face that then there are going to be issues,” Lighthizer said.

The US, he said, is involved in a very difficult trade struggle.

“It is one that not only do we have to engage in but should have been engaged in for decades before and it was to the shame of all of the people who have these kinds of jobs and I would say members as well as us that we have not focused on this issue enough and there are issues that will come up with it and we are trying to make it as small as possible,” Lighthizer said.

“What we have seen in many cases is people moving the manufacture of these jobs, of these products out of China in which case there is no problem. Another option of course is to move the manufacturing of these products to the US in which case there are no tariffs and no threat of tariffs,” he said.

“In the long term if I was in this business I can’t predict what the US is going to do or whether we are going to be able to resolve this issue with China, my hope is that we can but if we can’t if I were in that industry I would decide on other options down the road… including bringing some of the production back to the US,” Lighthizer said.

Source: financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-07-2019
Notification No.52/2019 - Customs (N.T.)
Exchange Rates Notification No.52/2019-Customs (NT) dated 18.07.2019.

Date: 16-07-2019
Notification No:10
Amendment in appointing a new Statistics Office under Collection of Statistics Act 2008

Date: 16-07-2019
Circular No 19/2019-Customs
Implementation of PGA eSanchit- Paperless Porcessing under SWIFT- Uploading of Licenses/ Permits/ Ceritificates/ Other Authorizations (LPCOs) by PGAS - reg.

Date: 15-07-2019
Notification No. 51/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 12-07-2019
ECA Circular No. 26/2015-20
Action for recovery of Penalty, Pending Appeals/Reviews

Date: 12-07-2019
Notification No. 50/2019- Customs (N.T.)
Amendment to the Notification No. 63/1994-Customs (N.T) dated 21st November, 1994, by notifying the pipeline of M/s Indian Oil Corporation Limited connecting Barauni, Patna, Motihari, Nonea in India to Amlekhgunj in Nepal as additional route for Raxaul LCS

Date: 12-07-2019
No. 27/2019-Customs (ADD)
Seeks to extend levy of anti-dumping duty till 27.10.2019, on imports of " Paracetamol" originating in or exported from china PR, extended vide notification No. 39/2018 Customs (ADD), dated the 20th August, 2018, in pursuance of order of Hon'ble High Court of Gujarat in the matter of SCA 5278/2019.

Date: 11-07-2019
A.P. (DIR Series) Circular No.2
Exim Bank's Government of India supported Line of Credit of USD 24.50 million to the Government of the Republic of Senegal

Date: 11-07-2019
A.P. (DIR Series) Circular No.1
Exim Bank's Government of India supported Line of Credit of USD 100 million to the Government of Independent State of Papua New Guinea

Date: 09-07-2019
Trade Notice No. 25/2019-20
Import of 4 lakh MT of feed grade Maize (dent corn) under TRQ allowed



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001