Friday 2 April 2010

China trade tensions with US

China’s trade disputes with the U.S. have been “amplified” and in some cases are no worse than those with other countries, U.S. Trade Representative Ron Kirk said ahead of a visit to Washington this month by President Hu Jintao.
Kirk declined to single out China as a protectionist nation in an interview on Bloomberg Television’s “Political Capital With Al Hunt” airing this weekend. The U.S. and China, with $409 billion in annual trade, have a complex relationship that holds “great promise,” Kirk said.
“Our challenges with China I think get amplified because there’s so much attention focused on China,” Kirk said. “But we have challenges throughout Asia.”
President Barack Obama would like to complete at least one of three pending trade agreements with Korea, Colombia and Panama this year, Kirk said. While he declined to say which accord would come first, Kirk said the administration is making “good progress” on resolving labor and tax issues with Panama.
Bipartisan cooperation will be required on trade issues to keep the U.S. competitive with other countries that are lowering tariffs, Kirk said. He has met with representatives of labor unions and congressional Democrats over the past 14 months to try to defuse the emotions surrounding trade, Kirk said.

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