Business Roundtable Statement on Results of U.S-China Joint Commission on Commerce and Trade (JCCT) Meeting

Washington, DC - Business Roundtable President John J. Castellani released the following statement in reaction to today's meeting of the U.S-China Joint Commission on Commerce and Trade (JCCT):

"Business Roundtable welcomes the results announced today by Ambassador Portman, Secretary Gutierrez and Vice Premier Wu Yi as part of the U.S.-China Joint Commission on Commerce and Trade (JCCT). In particular, the Roundtable applauds both sides for seriously addressing important issues in the trade relationship, including intellectual property rights enforcement, market access for key U.S. goods and services exports, and regulatory issues.

"China is now the United States' third largest trading partner and the world's fastest growing major economy, and its emergence presents significant opportunities for U.S. businesses, workers and the economy as a whole. But we have serious problems as well, which require active and careful management by the United States, China and our trading partners.

"What is important is that our governments seek to address the challenges constructively, in a manner that effectively advances U.S. interests, stays true to core U.S. principles of openness, and recognizes the key roles of the U.S. and China in driving global economic growth. The positive outcomes announced today as part of the JCCT are an important demonstration that such a process can be effective.

"Of course, one meeting will not fully address the range of issues in our trade relationship. Business Roundtable encourages U.S. and Chinese trade negotiators and economic officials to continue to work through the JCCT process and other agreed mechanisms to make progress on issues of concern."

# # #

Business Roundtable (www.businessroundtable.org) is an association of chief executive officers of leading U.S. companies with over $4.5 trillion in annual revenues and more than 10 million employees. Member companies comprise nearly a third of the total value of the U.S. stock market and represent nearly a third of all corporate income taxes paid to the federal government. Collectively, they returned more than $98 billion in dividends to shareholders and the economy in 2004.

Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with $86 billion in annual research and development spending -- nearly half of the total private R&D spending in the U.S.

Privacy