US vows to keep up trade pressure on China
The United States vowed to maintain pressure on China over alleged unfair trade practices, as prickly economic talks between the world powers neared an end.
By Agencies |
XIANGHE: The United States vowed on Thursday to maintain pressure on China over alleged unfair trade practices, as prickly economic talks between the world powers neared an end.
US Trade Representative Susan Schwab said Washington would continue to haul China before the World Trade Organisation in trade disputes, despite warnings by China's top trade official that such moves threatened economic ties.
"If we are unable to (resolve disputes through negotiations), then we will absolutely protect our rights under our trade agreements," Schwab said, referring to the WTO option.
The two trading giants kicked off the two-day Strategic Economic Dialogue on Wednesday with warnings that rising economic protectionism on both sides could harm one of the world's key trading relationships.
The leader of the Chinese delegation, Vice Premier Wu Yi, had cautioned the United States against "politicising" trade issues and took exception to recent US cases against China filed with the WTO.
The two sides also have clashed on the issue of the value of China's currency, the yuan, one of a long list of economic and trade complaints the United States brought to the talks on the outskirts of Beijing.
US Treasury Secretary Henry Paulson called on China to allow the currency to appreciate, amid complaints that an artificially weak yuan gives Chinese exports an unfair advantage on world markets.
The US trade gap with China soared 9.1 per cent in October from a year earlier to 25.9 billion dollars, the US government said Wednesday. Imports from China hit an unprecedented 31.6 billion dollars.
But China's vice minister of commerce, Chen Deming, said on Wednesday that a weakening US dollar was a bigger global economic concern.
Under two agreements signed Tuesday ahead of the dialogue, China vowed closer scrutiny of a range of food items, farming feed, drugs and medical devices, including some that have been at the centre of the safety scares.
But the underlying trade tension simmered into Thursday, with Schwab saying the US side had complained to China about a reported suspension of US movie imports.
"We have spoken forcefully to our Chinese hosts," Schwab told reporters of the apparent suspension.
"If true... that would be very serious indeed and that would be an issue we would continue to push very hard on."
US entertainment industry journal Variety last week quoted Chinese sources as saying a ban on all foreign movies would begin on Saturday and last at least three months.
Schwab said the US side was yet to confirm the details of the ban. China's film supervision has declined comment.
China allows just 20 foreign films to be shown in the country's cinemas each year but it was not immediately known whether the halt on screenings was due to that number already being reached.
US Trade Representative Susan Schwab said Washington would continue to haul China before the World Trade Organisation in trade disputes, despite warnings by China's top trade official that such moves threatened economic ties.
"If we are unable to (resolve disputes through negotiations), then we will absolutely protect our rights under our trade agreements," Schwab said, referring to the WTO option.
The two trading giants kicked off the two-day Strategic Economic Dialogue on Wednesday with warnings that rising economic protectionism on both sides could harm one of the world's key trading relationships.
The leader of the Chinese delegation, Vice Premier Wu Yi, had cautioned the United States against "politicising" trade issues and took exception to recent US cases against China filed with the WTO.
The two sides also have clashed on the issue of the value of China's currency, the yuan, one of a long list of economic and trade complaints the United States brought to the talks on the outskirts of Beijing.
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US Treasury Secretary Henry Paulson called on China to allow the currency to appreciate, amid complaints that an artificially weak yuan gives Chinese exports an unfair advantage on world markets.
The US trade gap with China soared 9.1 per cent in October from a year earlier to 25.9 billion dollars, the US government said Wednesday. Imports from China hit an unprecedented 31.6 billion dollars.
But China's vice minister of commerce, Chen Deming, said on Wednesday that a weakening US dollar was a bigger global economic concern.
Under two agreements signed Tuesday ahead of the dialogue, China vowed closer scrutiny of a range of food items, farming feed, drugs and medical devices, including some that have been at the centre of the safety scares.
ADVERTISEMENT
But the underlying trade tension simmered into Thursday, with Schwab saying the US side had complained to China about a reported suspension of US movie imports.
"We have spoken forcefully to our Chinese hosts," Schwab told reporters of the apparent suspension.
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"If true... that would be very serious indeed and that would be an issue we would continue to push very hard on."
US entertainment industry journal Variety last week quoted Chinese sources as saying a ban on all foreign movies would begin on Saturday and last at least three months.
Schwab said the US side was yet to confirm the details of the ban. China's film supervision has declined comment.
China allows just 20 foreign films to be shown in the country's cinemas each year but it was not immediately known whether the halt on screenings was due to that number already being reached.
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