US of­fi­cial out­lines top China is­sues

Daily Nation Newspaper - - BUSINESS AND CORPORATE -

HONG KONG - U.S. Com­merce Sec­re­tary Wil­bur Ross said on yes­ter­day the U.S. 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 U.S. 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 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.

Newspapers in English

Newspapers from Zambia

© PressReader. All rights reserved.