Gibbons Supports Measure to Enforce U.S. Trade Rights

Gibbons Supports Measure to Enforce U.S. Trade Rights
7/27/2005

Bill will Empower American Companies Against China Subsidies

-- Washington, DC --- Today, U.S. Congressman Jim Gibbons (R-Nev.) joined with his colleagues in the House of Representatives in passing the United States Trade Rights Enforcement Act which will allow American manufacturers to raise unfair-trade complaints against those companies who receive the benefits of subsidies from non-market economy countries such as China.

"American companies deserve to compete on an even playing field in the global market," said Gibbons. "The business and product subsidies Chinese companies enjoy from the communist Chinese government put America's companies at a great disadvantage in the global marketplace. Today's bill makes clear Congress' objection to China's unfair trade practices and provides American companies with a means to challenge them."

In addition, today's bill authorizes the United States Trade Representative (USTR) to create a trade enforcement officer within USTR who would focus on combating unfair and illegal trading practices by our trading partners. The Department of Treasury must report to Congress every six months on China's new currency mechanism and whether that mechanism is being applied so that the currency reflects market realities. The Administration must report to Congress -- in some cases on a monthly basis -- as to whether China is meeting its obligations and commitments in areas such as intellectual property and market access. If China fails to meet these commitments, then USTR is directed to take steps toward asserting U.S. rights in the World Trade Organization (WTO) dispute settlement process.

http://wwwc.house.gov/gibbons/display-pr.asp?id=1729