U.S. Trade Representative Ron Kirk will deliver a keynote address on “US-China Trade Relations Today and Tomorrow” at the U.S.-China Business Council’s 36th Annual Membership meeting on Tuesday, June 2.
Ambassador Kirk will discuss the importance of the U.S.-China bilateral trade relationship and the cooperative work of constructing a positive and comprehensive relationship between the U-S and China.
Last month, Ambassador Kirk met with Chinese Commerce Minister Chen Deming and exchanged views on a range of bilateral and multilateral trade issues. Ambassador Kirk and Minister Chen discussed the importance of avoiding protectionism and of utilizing cooperative mechanisms such as the Joint Commission on Commerce and Trade (JCCT) to resolve bilateral trade issues whenever possible. They also discussed the World Trade Organization (WTO) Doha Round and the importance of achieving a successful outcome that will spur new economic opportunities and contribute to global development and growth.
China is the United States’ 2nd largest goods trading partner with $409 billion in two-way goods trade in 2008, a 6 percent increase over 2007. China was the third largest market for U.S. exports in 2008.
Exports to China totaled $71.5 billion in 2008, up 9.5 percent from the previous year, and included electrical machinery, machinery, soybeans, aircraft and plastics. U.S. imports from China were valued at $337.8 billion during 2008, up 5.1 percent over the previous year, and included electrical machinery, machinery, toys and sports equipment, furniture and bedding and footwear.