Boeing, Caterpillar and more than 100 other multinational companies in US called on members of Congress on September 26 to reject protectionist legislation against China, in particular pending bills that would impose tariffs against China in retaliation for the undervalued yuan or unsafe imports.
"Imposing unfair barriers to trade in the name of currency valuation or product safety is not a solution to the underlying concerns, and it ultimately undermines the important work that should be undertaken to prepare our economy and our workers for the realities of the global economy," the companies wrote.
A total of 119 companies and 35 industry associations from a range of industries signed the letter. Other companies signing the letter were Citigroup, Exxon Mobil, General Motors and Microsoft.
The letter largely reiterated the position of multinational firms that US competitiveness is helped more by reducing overseas barriers to trade and increasing worker education and training in the US, rather than putting up barriers to trade.
"Conversely, policies that single out individual countries as responsible for the United States' broader concerns will not be effective and should be rejected, as should approaches that violate the United States' own international obligations or that improperly restrict access to the US market," it said. "Doing so can only undermine US credibility and competitiveness and put US exports at substantial risk of retaliatory action."
The letter comes as companies anticipate that Congress will take up a China currency bill sometime in the fall. Two Senate committees have approved different bills on this topic, including one that would allow tariffs on Chinese imports to increase after a formal finding that the yuan is undervalued.
However, the Senate is expected to wait for action in the House before moving for a full vote. Key members of the House Ways and Means Committee are expected in the coming weeks to introduce their own version of a currency bill and hope to get it approved in the coming months.
Congressional and industry sources said earlier this month that a crowded legislative calendar could push off further consideration of these bills until next year.
Source: China Daily
Great news! It's always nice to see level-headed people who obviously know what they are talking about.
The EU is considering now, in Brussels, imposing new tariffs against China because of a lack of willingness (as seen by the EU) in doing anything serious about cracking down on these copyright infringers/ fakes... Germany alone released figures this week that over 80 BILLION Euros worth of fakes have been seized by customs in the last couple of years.... they have also calculated that the production of these fakes has cost Germany 70,000 jobs in the last year alone. Even of you allow that Germany might see the majority of these fakes the numbers for the EU as whole are pretty staggering.
Please explain to me WHY other countries should NOT impose restrictions upon China for continuing to allow THOUSANDS of companies to merrily keep producing fake products?
The most important point of the news, which needs attention of all, is pasted below as a ready reference. This news reveals the true face of USA's policy concerning "Quality Standards".
Quote," .......Earlier, scientists ( here the reference is Indian Scientists) under the agriculture ministry had rejected American wheat listing contaminants and weeds in it which could cause harm to Indian agriculture. The US had protested and lobbied at various levels and forums against the decision demanding that the Indian standards be lowered........" Unquote.
Now, here USA is demanding and pressurizing Indian govt. to lower the pre-set standards so that their sub-standard, contaminated wheat can get into the Indian market. Does it not sound FUNNY?
Is it not the double standards of USA in the name of "Quality Standards"? One policy for herself and one policy for others. I had mentioned sometime back about Pepsi, Coke and KFC's examples of selling sub-standard products in India. (Link: http://resources.alibaba.com/topic/165638/WHAT_DO_YOU_THINK_ABOUT_____/3.htm ) Wheat is going to be an another example of USA's sub-standard supplies, if at all Indian govt. succumbed to their pressure.
It now seems to be a sheer propaganda by USA and some of the other developed countries in the name of " quality standards" specifically against those countries which are posing threats to their economic conditions.
What is "Standard" and what is "Sub-standard" is a big question to answer. But WHO WILL DECIDE IT is a moot point.
If USA (or her allies) face the similar situations /or obstructions from other countries on the clause of "quality standards", they want those countries to reset the definition of a standard product to suit them whereas if they are on the import side, they keep on enhancing the standards high and high in order to put restrictions on the exporting countries. This is nothing but seems to be a subtle way of banning or restricting countries from accessing their markets. This way they are able to avoid any direct confrontations and strong retaliation from the affected country/s.
I feel, something else (politics) is going on behind the scene in the name of "Standardized products" or "Sub-standard products" by USA (and/or some of her allied countries having similar agenda) to corner specific countries in order to force them to open their markets for them and that too on their own terms. For USA, this kind of actions seems to be a desperate effort to try to improve their continuous detoriating economic situation with huge "Trade Deficit" accumulated in last one decade. (reference: http://economics.about.com/cs/analysis/a/trade_deficit.htm )
