LaHood joins President Trump for
signing of Phase One U.S.-China Trade Deal
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[January 16, 2020]
WASHINGTON, D.C.— Congressman Darin LaHood (R-IL) today joined
President Donald Trump for the signing of the phase one trade
agreement between the United States and China. Following the
ceremony, Rep. LaHood released this statement:
“It was an honor to join President Trump today for the signing of
the phase one trade agreement with China. For far too long, China
has taken advantage of the United States on trade, and the phase one
deal is a historic step forward that achieves real progress for
producers in the heartland.
“Farmers and manufacturers in Illinois rely on the Chinese market to
sell their goods. With today’s signing, our producers will begin to
regain that access with a significant agriculture purchase
agreement. In addition, U.S. companies will see a more level playing
field in the areas of forced technology transfers and intellectual
property rights. After more than a year of negotiations, I am
pleased to see a phase one deal come together, and I applaud
President Trump, U.S. Treasury Secretary Steve Mnuchin, and U.S.
Trade Representative Robert Lighthizer for their extensive work to
negotiate this agreement. As a member of the Ways and Means
Committee, I will continue to work with them to ensure that Illinois
manufacturers and farmers have a seat at the table as phase two
negotiations begin.”
The Phase One Deal
The historic agreement requires structural reforms to China’s
economic policy in intellectual property, agriculture, financial
services, currency and foreign exchange, and important aspects of
China’s technology transfer policies.
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The deal establishes a strong dispute resolution system to ensure effective
implementation and enforcement
Increases the import of U.S. services and goods over the next two years in a
total that exceeds China’s annual level of those services and goods in 2017 by
no less than $200 billion
China is committing to purchase U.S. agricultural and seafood products in the
range of $40 to $50 billion for the next two years
China has agreed to lift import prohibitions on a wide range of products,
including poultry, processed meat, and certain pork, dairy, and seafood
products, and will be eliminating unwarranted restrictions on U.S. beef as well
Background
As a member of the Ways and Means Committee, which has sole jurisdiction over
trade, and co-chair of the U.S.-China Working Group, Rep. LaHood led a
delegation to China in March of 2019 discuss the importance of a fair-trade
partnership between the U.S. and China.
For Illinois, China represents one of Illinois’ largest export markets,
accounting for 25 percent of all Illinois agriculture exports. Illinois produces
three of the top four commodities exported to China, soybeans, sorghum, and
pork. Access to the Chinese market is critical for Illinois agriculture
producers and manufacturers, and as the negotiations have unfolded, Rep. LaHood
remained a strong advocate for reducing tariffs and cracking down on China’s
unfair trade practices.
[Office of Congressman Darin LaHood] |