USCIB, along with dozens of U.S. business and industry groups, sent a letter to USTR Robert Lighthizer, U.S. Secretary of Treasury Steven Mnuchin and Vice Premier of China’s State Council Liu He strongly supporting the U.S.-China Phase One Trade Agreement noting its “significant achievement in ongoing efforts to advance a more balanced and mutually beneficial U.S.-China economic and commercial relationship.”
The letter also stated that successful implementation of Phase One will be critical to subsequent negotiation of a Phase Two Agreement.
The organizations noted that continuing fulfillment of the terms of the Agreement particularly with regards to Intellectual Property, removal of market access barriers and tariffs are critical. With regards to market access barriers, the letter focused on U.S. fruits, grains, and nearly all U.S. beef products, the expansion of its list of U.S. facilities eligible to export beef, pork, poultry, seafood, dairy and infant formula to China, as well as the adoption of new domestic standards for dairy powder that will allow imports from the United States.
“Meeting the global public health challenges from COVID-19 and restoring growth to the global economy will depend in part on both countries working together to fully implement the mutually beneficial outcomes of the Phase One Agreement,” the letter stated. “Thorough and timely implementation of Phase One commitments is also the most direct and achievable path to removal of tariffs—and to avoid application of new ones—on both sides, which the U.S. business community strongly supports.”