US Lawmakers Urge Trade Action vs China, Others
Reuters reports that Democratic lawmakers in Washington are asking the Obama administration to take action against China for various trade disputes:
“A reciprocal trade strategy must also include targeted action to eliminate the most persistent and egregious barriers,” the group from the House of Representatives Ways and Means Committee said.
“Specifically, it will be difficult to meet the goal of doubling exports in five years if China, poised to become the second largest economy in the world, continues with its current exchange rate policy,” they said.
The U.S. Trade Representative’s office is due to release its annual report on foreign trade barriers on Wednesday.
It is expected to include an increased focus on foreign standards the United States believes are not based on sound science or otherwise unfairly block U.S. farm and manufactured goods exports in violation of global trade rules.
Obama has come under increased pressure to take action against China on its currency policy.