. Military Space News .




.
TRADE WARS
US trade official warns against 'lashing out' at China
by Staff Writers
Hong Kong (AFP) Oct 17, 2011


A senior US trade official warned Monday against moves that could be seen as "lashing out" at China over the value of its currency, saying there were other ways to level the economic playing field.

Under Secretary for International Trade Francisco J. Sanchez said he understood frustrations were running high in the United States over a China currency policy perceived as undermining US exports and jobs.

But he said the response must be consistent with international trade rules, after the US Senate last week approved a bill to impose punitive taxes on Chinese imports if the yuan is not revalued.

"Some of the frustration that you see from the bill that came out of the Senate is a sense that some of the policies that China puts forward do not foster a level playing field," Sanchez told reporters in Hong Kong after a visit to Beijing with a delegation of US biotechnology firms.

"I would just say generally that as we seek to create a level playing field, we can't lash out in frustration to China or anyone else."

The official whose job is to promote US exports said Beijing and Washington already had adequate channels of communication to resolve differences, such as the US-China Joint Commission on Commerce and Trade.

The US, which posted a record $29 billion trade deficit with China in August, is calling for a faster appreciation of the yuan currency, which many in Washington believe is being kept artificially low.

China defends its exchange rate regime, saying it is moving gradually to make the yuan currency more flexible, but this has failed to silence critics in the US who argue the Chinese currency is undervalued by about 30 percent.

Secretary of State Hillary Clinton said Friday that the Chinese "continue to try to game the system to their advantage and our disadvantage".

But the White House has not supported the Senate bill and Republican majority leaders in the House of Representatives have warned it could lead to a damaging trade war, effectively dooming its prospects of becoming law.

Sanchez said the US was eager to expand trade and investment with China despite its lingering concerns over issues such as forced technology transfers, copyright protections and local content requirements.

Addressing Chinese complaints about the US export control list, which restricts the export of items deemed sensitive to national security, he said the administration was working hard to reform its policy.

"Our export control regime is first and foremost in place for national security reasons and probably less than two or three percent of our trade with China would fall under export controls," he said.

But he said the administration was trying to remove "inconsequential" items from the list to make them available for civilian use and sale abroad.

Related Links
Global Trade News




.
.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries






.

. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



TRADE WARS
Pacific nations eye 'stepping-stone' trade deal
Washington (AFP) Oct 17, 2011
The United States and eight other Pacific countries hope to announce the crux of a major trade deal at an Asia-Pacific summit next month, officials said Monday, a step toward an elusive APEC-wide accord. US trade officials said leaders from nine nations should herald the "broad outlines of an agreement" at an Asia-Pacific Economic Cooperation summit, which will be hosted by President Barack ... read more


TRADE WARS
Aerostat system detects cruise missiles and supports engagement

Raytheon Successfully Test Fires First New-Build Patriot Missile

NATO missile shield 'not targeted at anyone': Spain

THAAD Weapon System Achieves Intercept of Two Targets at Pacific Missile Range Facility

TRADE WARS
El-Op tunes C-Music to protect airliners

US team seeking missing missiles in Libya

New Northrop Grumman Laser Threat Terminator Aims to Aid Army Missile Seeker Countermeasure Efforts

Northrop Grumman Upgrades Enhance Royal Australian Navy Frigate Anti-Ship Missile Defence Systems

TRADE WARS
Raytheon Aims to Integrate STM on Light-Attack Aircraft

Miscommunication caused US drone deaths: report

Expert: Drone virus poses ongoing threat

US Air Force calls drone fleet virus a 'nuisance'

TRADE WARS
First MEADS Battle Manager Begins Integration Testing in the United States

Elbit Establishes Israeli MOD Comms Equipment Supply Upgrade and Maintenance Project

Boeing FAB-T Demonstrates High-Data-Rate Communications with AEHF Satellite Test Terminal

NRL TacSat-4 Launches to Augment Communications Needs

TRADE WARS
Raytheon Excalibur Ia-2 Ready for Use in Afghanistan

Lockheed Martin Awarded VNsight Sensor Production Contract for the Apache Helicopter

Australia opens clothing test facility

Northrop Grumman Delivers Rate Sensor Assembly Units for the M1A1 Abrams Tank

TRADE WARS
Petraeus denies imposing military view on CIA analysts

British defence minister resigns in 'best man' scandal

F-35 fighter program might face cuts: top US officer

Poland, Ukraine good for defense firms

TRADE WARS
China's Communist Party meets before leadership change

Commentary: Found and lost?

Outside View: Political acts of insanity

Russia's Putin holds talks with China's Hu

TRADE WARS
Boeing and BAE Systems to Develop Integrated Directed Energy Weapon for US Navy


.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2011 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement