Ustr China Us Agreement
Alongside the noise caused by the Phase One agreement, trade representatives from the United States, Japan and the European Union met on 14 January and announced a proposal to strengthen WTO rules on industrial subsidies, which they said were “insufficient to combat market-distorting subsidies and trade in certain legal systems” , a thinly veiled reference to China. “This China-phase-one agreement is proof that President Trump`s negotiating strategy is working. While It took China a long time to recognize that President Trump was serious, the deal is a great success for the economy as a whole. After all, this agreement is a measure for U.S. agriculture and a boon for U.S. farmers, ranchers and producers,” said Sonny Perdue, U.S. Minister of Agriculture. The opportunity to participate in this market in a fairer and fairer manner has led to increased sales that support price increases and strengthen the rural economy. Washington, D.C. – U.S. Agriculture Secretary Sonny Perdue and U.S.
Trade Representative Robert Lighthizer announced today that China has taken many steps to implement its agricultural commitments in time as part of the pioneering U.S. and China Economic and Trade Agreement. The agreement came into force on February 14, 2020. The 18-language chapter, which represents one-fifth of the comprehensive agreement, imposes various obligations on trade secrecy, drug-related intellectual property, geographical indications, trademarks, patents, e-commerce infringement and enforcement of pirated and counterfeit goods. The theft of IP and trade secrets has long been a concern of American companies and one of the main triggers of the Trump administration`s customs escalation. The agreement contains provisions for the protection of confidential information that are considered trade secrets – U.S. companies feel that this is not sufficiently protected by Chinese law. Considerable progress has also been made in protecting drug-related intellectual property.
The agreement also calls on China to present an “action plan to strengthen intellectual property protection” within 30 days of the agreement`s entry into force. “President Trump and this administration have negotiated a strong trade agreement with China that promises significant benefits for American agriculture,” said Minister Perdue.
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