Tim Stratford delivered this testimony before the the U.S. House Committee on Ways and Means February 26, 2020:
Chairman Neal, Ranking Member Brady, and distinguished members of this committee, thank you for the opportunity to share my assessment of the U.S.-China economic relationship following conclusion of the Phase One trade agreement between our two countries.
Over the past 38 years I have devoted my career to promoting fair and beneficial trade relations between the United States and China, because it’s seemed to me that getting this relationship right is one of the most consequential tasks and challenges of our time. I have done this as a lawyer, U.S. diplomat, general counsel of a major American company’s operations in China, and as three term chairman of the American Chamber of Commerce in China. As a former U.S. trade negotiator, I salute the extraordinary efforts of our negotiators today and understand the daunting challenges they face.
I would like first to discuss the trade policy issues that have negatively impacted this incredibly important relationship, and the extent to which they are addressed in the Phase One agreement. I would then like to discuss the agreement’s place within the context of the overall U.S.-China economic relationship, which is increasingly defined by competition and increasingly inseparable from national security considerations. Finally, I would like to offer some thoughts on lessons learned, as well as on U.S. objectives over the coming months and years and possible approaches for achieving them.
Issues in the U.S.-China Trade Relationship
As I see it, U.S. trade negotiators have confronted three types of issues with China, with the three types listed below in ascending order of difficulty and criticality:Continue Reading US-China Economic Relationship