| President Obama supports open and free trade between the US and China, said US Commerce Secretary Gary Locke at the opening ceremony of the 20th Joint Commission on Commerce and Trade (JCCT) held in Hangzhou, east China’s Zhejiang province, on October 29. He was attending along with US Trade Representative Ron Kirk and Agriculture Secretary Tom Vilsack.
Locke also said Obama would like to establish a balanced and sustainable China-US trade relationship.
The JCCT meeting precedes President Barack Obama’s China visit in November. The US decided earlier to impose duties of 35 percent on $1.8 billion of Chinese automobile tire imports. China responded by calling the move “abuse” and filed a complaint with the World Trade Organization.
The complex trade disputes embody the nature of the China-US relationship, said Locke, who also called for the bilateral trade negotiations during the JCCT to reach more achievements.
Chinese Vice Premier Wang Qishan also addressed the opening ceremony. According to him, both China and US oppose trade protectionism in whatever form. Wang pointed out that China has taken lots of measures to fight against the global financial crisis and help America out of current economic difficulties.
During the 2009 JCCT, Chinese and American officials will participate in a high-level annual plenary meeting as well as review progress made by a large number of working groups convened throughout the year. The goal is to bring Chinese and US officials together to engage in detailed discussions of specific trade issues. Examples of these groups include the Insurance Dialogue and the Information Industry Working Group.
China was the second largest supplier of US good imports in 2008 (after Canada) and was the third largest market for US exports in 2008 (after Canada and Mexico). US goods exports to China were $70 billion in 2008, up 330% since 2000. Trade in services with China (exports and imports) totaled $23.0 billion in 2007 (latest data available); services exports were $14.2 billion and services imports were $8.8 billion.
The China-US Joint Commission on Commerce and Trade (JCCT) was established in 1983 as a forum for high-level dialogue on bilateral trade issues and a vehicle for promoting commercial relations. The JCCT is co-chaired by the US Secretary of Commerce and China’s Vice Premier and enjoys strong interagency support on both sides. The Commission consists of three working groups covering trade and investment issues, business development and industrial cooperation, and commercial law, as well as a side dialogue on export controls.
By Xie Fang |
