Market access, protectionism top China issues — US

The most important thing to push for with China is better market access for companies operating there physically and for companies exporting there.

HONG KONG: US Commerce Secretary Wilbur Ross said yesterday the US relationship with China was too lopsided and listed market access, protectionism and intellectual property as the biggest problems amid trade tensions between the two countries.

Ross said both sides were frank and open, and articulated good points of view during his trip to Beijing, which was a good sign, although neither made concessions.

“The most important thing to push for with China is better market access for companies operating there physically and for companies exporting there,” Ross said.

“Ranking equal with that would be less protectionist behaviour.” The US Commerce Department said in a statement on Tuesday that Ross had pressed China on the “need to rebalance bilateral trade and investment relations” and urged it to take “meaningful action” on trade issues.

China’s relationship with the United States has been strained by

Wilbur Ross, US Commerce Secretary

the Trump administration’s criticism of China’s trade practices and by demands that Beijing do more to pressure North Korea to halt its nuclear weapons and missile programmes.

Ross, speaking to reporters in Hong Kong two days after his visit to Beijing, also said overcapacity was still a big issue in some sectors and highlighted new industries such as robotics as potential threats.

“There apparently are something like 400 robotics companies in China right now and people in the industry tell me maybe 360 of those are in it to get the subsidies and tax breaks and are not really serious about the product,” he said.

On Monday, Ross told Chinese Premier Li Keqiang that the United States hoped for “very good deliverables” when US President Donald Trump visits China, likely in November.

He did not specify what “deliverables” the United States was hoping for.

Ross is due to lead a trade mission to China as part of President Trump’s visit there. — Reuters

US Commerce Secretary Wilbur Ross poses before a round table briefing in Hong Kong on September 27. Ross said he was optimistic over talks between president Donald Trump and Chinese president Xi Jinping in November as they seek to reduce a trade...