ACC Responds to USTR Lighthizer Testimony on US-China Trade Negotiations

WASHINGTON (February 27, 2019) – The following statement may be attributed to American Chemistry Council (ACC) President and CEO, Cal Dooley, in response to testimony given today by U.S. Trade Representative Robert Lighthizer regarding ongoing U.S.-China trade negotiations:

“U.S. chemicals manufacturers are encouraged by the progress that the U.S. and China appear to have made toward a mutually beneficial conclusion to the negotiations. As Ambassador Lighthizer made clear today, achieving structural changes to China’s unfair practices is President Trump’s top priority. If the President also seeks a commitment from China to purchase more U.S. goods, then chemicals, the heart of all U.S. manufacturing, offer the most promising and advantageous opportunity for U.S. export growth. 

“The shale gas revolution has attracted $202 billion in announced U.S. chemical industry investment, much of which is directed toward U.S. export markets, including China. At the same time, the U.S. has applied tariffs on $15 billion in imports of chemicals and plastics from China, and China has retaliated with duties on $11 billion in U.S. exports of chemicals and plastics to that country. Tariffs weaken our industry’s competitive advantage by impacting international supply chains and many of the inputs that U.S. chemicals manufacturers rely on to stay competitive in the global marketplace. Eliminating tariffs can help the U.S. continue to build on the 500,000 manufacturing jobs created under President Trump.

“Chemicals have been one of the key sectors affected by the U.S.-China trade dispute since the beginning – and now, they could serve as one of the pillars underpinning a potential resolution. To get there, we strongly urge the U.S. and China to agree to exclude all chemical products from their respective tariff lists.”

CONTINUE READING ON www.americanchemistry.com