The Top-to-Bottom Review released yesterday by US Trade Representative (USTR) Ambassador Rob Portman proposes enhancing USTR's enforcement capabilities.
It also proposes increasing trade staff both in China and at USTR, and improving the outcomes of bilateral engagement with China, all of which are essential to addressing the concerns of the US business community.
In response to the USTR review, US-China Business Council President John Frisbie says, "We must never lose sight of China's importance to the US economy: China is our fastest growing export market and imports from China help keep inflation low, benefiting American consumers and businesses."
"At the same time, we must take steps to resolve problems in our commercial relationship, such as inadequate intellectual property rights protection, lack of transparency in China's regulatory process, inconsistencies in market access for foreign companies operating in China, and the need for broad reforms in China's financial sector, including greater market influences on the determination of China's exchange rate."
