CEOs Push Administration to Move on China BIT
It's the right time to strike an agreement on a text for the U.S.-China Bilateral Investment Treaty, and the two sides should ramp up efforts in the first part of 2015 to make sure China narrows down its list of…
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sectors exempt from the treaty, said more than 50 U.S. CEOs in an Oct. 15 letter to President Barack Obama. The 15th round of negotiations on the treaty wrapped up in late September, and the Office of the U.S. Trade Representative dispatched Deputy USTR Robert Holleyman to Beijing this week to prepare for the annual U.S.-China Joint Commission on Commerce and Trade (see 1410140043). “If China can significantly reduce its negative list and open markets to American manufacturers, agriculture producers, and service providers, you will find the business community fully engaged and supportive of your leadership to gain Senate approval of the treaty,” said the letter, signed by leaders from Caterpillar, Coca-Cola and dozens of other negotiations. “There are few other commercial outcomes that would gain as much support from business leaders in both the United States and China.”