US Producers, Industry Reps Say Chinese BIT Proposal Will Define Future Talks
The Chinese proposal for industry coverage in the U.S.-China Bilateral Investment Treaty will likely dictate the next two years of negotiations on the pact, said 14 U.S. producers and industry representatives in a Dec. 17 letter to Chinese Vice Premier…
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Wang Yang (here). President Barack Obama and Chinese counterpart Xi Jinping both pledged in November to unveil proposals in early 2015 for a “negative list,” the specific industry sectors that each country wants to exclude from investment liberalization and other rules (see 1411120008). “If the core text reflects a high standard, and the proposed negative list from China is limited and exceptions are narrow in scope, we are confident that we can work with a broad-based industry coalition and our representatives in the U.S. Senate to secure the two-thirds majority required for ratification,” said the 14 signatories, which include the American Apparel and Footwear Association and the U.S. Chamber of Commerce.