Congressman Calls on China to Honor International Trade Obligations; Presses for Congressional Approval of Pending Trade Agreements with Panama, South Korea, and Colombia(Washington, DC -- June 17, 2010) - Testifying before the Committee on Ways and Means, Congressman Erik Paulsen (MN-03) yesterday expressed significant concerns over China's disregard toward global trade rules. With the American Chamber of Commerce in China recently noting the country is closing its markets to foreign competition, Congressman Paulsen called on China to honor existing international trade agreements. China has been accused of unfairly supporting domestic industries and imposing barriers to trade. Representative Paulsen noted that China is an important market for US medical device manufacturers, whose exports to China totaled $1.3 billion last year. If China slips into protectionism, the negative impact on Minnesota could be drastic.
"My District outside of Minneapolis has a large medical technology corridor that employs tens of thousands and creates products that save lives worldwide. Unfortunately, our hard-working American innovators cannot make the most out of their trade with China due to regulatory obstacles and other non-tariff barriers." Congressman Paulsen also called on the Obama administration to provide the leadership necessary to secure our pending trade agreements with Panama, South Korea, and Colombia. “While China is actively pursuing and securing FTAs around the world, the United States is sitting on its hands, passing up valuable opportunities to turn the American economy around. We must continue to advocate for free trade and oppose protectionism to keep U.S. markets open to Chinese products and investments." |
