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Lipinski Calls On Chinese Lawmakers to Implement Fair Trade Policies

 
Lipinski Calls On Chinese Lawmakers to Implement Fair Trade Policies

WASHINGTON, DC - Congressman Dan Lipinski today called on Chinese lawmakers to engage in fair trade practices and reduce the trade imbalance with the United States, which hit a record level of $162 billion in 2004.

"If the Chinese want to be members of the global economy, they need to open up their markets to American exports," said Congressman Lipinski. "There is no better place to begin than by addressing the problems caused by China's currency manipulation." China's policy of pegging its currency to the dollar has resulted in cheaper Chinese goods being imported into the U.S., while American exports are more expensive.

Congressman Lipinski joined other U.S. lawmakers to press China on its trade practices during meetings in Washington with members of the Chinese National People's Congress. Last week during the sixth round of the U.S.-China Interparliamentary Exchange, members of Congress addressed concerns about intellectual property rights violations, widespread trade barriers, and China's pegged currency policy, along with other issues.

The protection of intellectual property rights has become one of the highest priority issues in U.S.-China trade relations in recent years. "Chinese counterfeited and pirated goods are costing U.S. businesses billions of dollars in lost sales every year," Congressman Lipinski said. "Meanwhile, the Chinese government does far too little to enforce intellectual property rights."

Under the terms of China's entry into the World Trade Organization, China agreed to comply with the WTO agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS). However, China continues to fall far short of full compliance, with Chinese companies engaging in rampant retail piracy, illegal reproduction of software, and trademark counterfeiting.

Congressman Lipinski is a cosponsor of HR 1498, The Chinese Currency Act of 2005, which would enable American manufacturers and workers to gain relief from this China's currency manipulation. He also cosponsors HR1575, which would impose an additional 27.5% duty on Chinese imports unless China ends its manipulation of exchange rates.

 

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Congressman Dan Lipinski (IL03) (center) confers with Congressman Cliff Stearns of Florida during discussions with members of the Chinese National People's Congress on U.S.-China trade issues in Washington on June 15, 2005.

(June 20, 2005)

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