U.S. Chamber: China’s discriminatory practices hurt U.S. companies

U.S. Chamber: ChinaÆs discriminatory practices hurt U.S. companies China should do more to open its market to American products and services, according to the U.S. Chamber of Commerce’s annual assessment of U.S.-China commercial relations.
   “There are heightened concerns over China’s discriminatory industrial and investment policies that effectively limit access to its markets for American firms, particularly in the services sector,” said Myron Brilliant, chamber vice president for East Asia, in a statement. “China should understand that it must take steps to address these concerns or face a significant erosion of support for the U.S.-China commercial relationship in the United States.
   We urge both governments to use December’s high-level meetings in Beijing to deepen economic ties and address tensions in the current relationship.”
   The report cites chamber efforts in promoting positive policy changes in China, including in the areas of trade and investment, innovation and intellectual property rights, services, energy and competition policy. It highlights the benefits for China of adopting and enforcing world-class standards of excellence in these areas.
   At a press briefing Monday, the chamber underscored its strong opposition to legislative proposals pending before the Congress on China’s currency practices, including S. 1607 and S. 1677.
   “While we respect the intent of such proposals, we oppose counterproductive approaches that would be inconsistent with our international obligations, weaken our ability to promote needed reforms in China, and jeopardize American exports to our fastest growing trading partner,” Brilliant said. “We must rise to the economic challenges we face, not retreat to protectionism.”
   The chamber’s report was submitted to the Office of the U.S. Trade Representative. Brilliant will testify on the Chamber’s report Thursday before a public hearing at USTR.