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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: US sees progress in easing trade disputes with China AFP - Thursday, December 25 WASHINGTON (AFP) - - The United States said it expected to make significant progress in resolving trade disputes with China in 2009 even as the Asian giant imposed new restrictions on market access and foreign investments. The cautious optimism appeared in US Trade Representative Susan Schwab's 2008 report to Congress Tuesday on China's compliance with commitments it made since it joined the World Trade Organization (WTO) seven years ago. The 115 page congressionally mandated annual report said US companies in 2008 had pointed to further evidence of Chinese restrictions on market access and foreign investment in China. They included the setting of "unique" Chinese national standards, promotion of famous Chinese brands of merchandise using what appeared to be prohibited forms of financial support, use of export quotas and export duties and restrictions on foreign investment and foreign companies, the report said. It highlighted the status of China's ongoing efforts in such areas as intellectual property rights, industrial policy, agriculture, and services. "Based on the increased willingness that China displayed in 2008 to work cooperatively and pragmatically with the United States on contentious issues, the United States is optimistic that significant progress is obtainable in 2009, the report said. The United States, it said, would give emphasis on reducing Chinese government intervention in the market, removing remaining trade and investment barriers and lowering copyright piracy infringement levels in China. But the report warned that if bilateral dialogue was not successful in resolving concerns, the United States will haul China to the WTO to address issues using a dispute settlement mechanism of the global trade watchdog. In the latest case, the United States, joined by Mexico, initiated a WTO case against China in December challenging its policy of promoting sales of famous brands of Chinese merchandise through what appeared to be "prohibited export subsidies." China is the second largest goods trading partner of the United States, with two-way trade totalling 387 billion billion dollars in 2007 and on track to increase by nine percent in 2008, the report said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Chinese dairy bankrupt after tainted milk scandalAP - 56 minutes ago US sees progress in easing trade disputes with ChinaAFP - Thursday, December 25 Vietnam economy grows 6.23 pct in 2008, below targetAFP - Thursday, December 25 Cuba says GDP rose 4.3 percent in 2008AP - Thursday, December 25 Related Articles: Business Japan's Nikkei up 0.2 pct after Wall St gainsReuters - 53 minutes ago China Eastern Air says aid plan to be adjustedReuters - 55 minutes ago Chinese dairy bankrupt after tainted milk scandalAP - 56 minutes ago FEATURE-Luxury brands still a tough sell in wealthier IndiaReuters - 58 minutes ago Japan Nov corporate service prices -1.9 pct yr/yrReuters - 1 hour 3 minutes ago Enlarge Photo US sees progress in easing trade disputes with China Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US sees no holiday cheer; Russia, China warn of grim 2009 Housing market feels more pain, bottom not yet in sight French investor takes life after massive losses in Madoff scandal Quake zone hero pig named China's animal of the year Actress Jennifer Aniston appears naked in GQ magazine View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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