The US-China Business Council (USCBC) has released a statement of priority actions needed to continue strengthening the commercial relationship between the United States and China.
This sixth annual priorities statement issued by USCBC’s board of directors focuses on the efforts needed by both governments on the top priorities for American companies that conduct business with China.
This is a critical time for results-oriented government engagement on key trade issues. The fledgling Trump administration is still developing its policy approach to manage the US-China relationship.
Though China’s reforms are entering their fourth year, the slow pace and mixed signals so far are undermining confidence and leaving the American business community uncertain about policy direction.
To build confidence and ensure the commercial relationship remains a source of stability and progress, both governments must work closely with the business community to address the priorities with significant progress in the coming year.
“The United States and China must work to achieve the shared goals of our bilateral relationship to fulfill the potential for growth and success in both countries,” says Mark Fields, president and chief executive officer, Ford Motor Company and Chair of the USCBC.
“The fundamental steps we have outlined form a solid path to guide actions of both governments in the years ahead.”
USCBC President John Frisbie said, “The American business community is a partner to both governments in achieving the shared goal of tangible progress in the coming year. Through this declaration of our priorities, American business leaders are highlighting the need for the US and Chinese governments to create a stronger foundation for what is the most important bilateral relationship in the global economy.”
These priorities are grouped under four major goals:
· Further Solidify the Foundation for Mutually Beneficial Commercial Relations
· Reduce Trade Barriers and Enforce Globally Accepted Trade Rules
· Ensure Competitive Neutrality and Improve Transparency
· Strengthen Intellectual Property Rights (IPR) Protection and Adhere to Mutually Beneficial Innovation Policies