News Home
FOXX ACTS TO FORCE CHINA TO PLAY FAIR
Washington, DC,
July 27, 2005
This afternoon, United States Rep. Virginia Foxx (N.C.-5) took action to stop China from flooding American markets by voting to authorize a countervailing duty law to exports from non-market economies.
FOR IMMEDIATE RELEASE This afternoon, United States Rep. Virginia Foxx (N.C.-5) took action to stop China from flooding American markets by voting to authorize a countervailing duty law to exports from non-market economies. “China is crippling our manufacturing economy and eliminating our jobs by illegally flooding our markets,” said Rep. Foxx, a co-sponsor of H.R. 3283, the U.S. Trade Rights Enforcement Act. “China’s idea of fair trade is government subsidies of its textile and apparel exports to the United States, currency manipulation, and forgiveness of loans by its government banks. We must take swift action to stem this tide. This legislation is a good first step, but we must do much more.” Currently, American companies can only file antidumping trade cases against companies in non-market economies, but they cannot bring countervailing duty cases against businesses whose products are being subsidized by those countries. This WTO-legal bill would close this loophole by allowing our manufacturers to file unfair-trade complaints against companies who receive subsidies from countries such as China. The Trade Rights Enforcement Act establishes a system to monitor Chinese compliance with its trade obligations on intellectual property rights; market access for American goods, services and agriculture and accounting of Chinese subsidies. The bill would require the President to issue semi-annual reports to Congress on the specific steps the Chinese government is doing to meet its obligations. In addition, it would require the Administration to provide a description of how it will obtain compliance if China fails to meet their commitments. “I am pleased that we are urging fair trade practices with non-market countries such as China, but again, we must do more,” said Rep. Foxx. “Challenging unfairly subsidized products, fighting counterfeit goods and intellectual property theft and holding countries accountable for an unfair currency regime will help American companies remain competitive.” ### |