USCBC Calls for Confirmation of US Plan to Use Market Economy Methodology for China
Assurance is needed on the U.S. plans for changes to the methodology used to calculate China trade remedies, said the U.S.-China Business Council in its annual statement of priorities (here). The countries should confirm that the U.S. "will begin using…
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market economy methodology in China trade remedy proceedings on or before December 11, 2016, as specified in China’s World Trade Organization (WTO) entry agreement," the group said. The USCBC included that issue among its wide-ranging list of important issues planned for consideration, released Jan. 20. Additionally, government decisions, including antidumping and countervailing duties trade remedies "must be fact-based, shielded from political pressures, and non-retaliatory," it said. Also important is eliminating the high tariffs and taxes on consumer goods imported by China, which would lead to job growth in the country. "Reducing or eliminating tariffs and taxes on consumer goods would be a simple yet powerful stimulant of domestic consumption," it said. "Removing restraints on imports, such as increasing or eliminating the cap on imported movies, would stimulate services sector growth and employment." The USCBC also called for the acceleration of U.S. export control reforms and cooperation between the two countries on environmental technologies.