Alliance for American Manufacturing (AAM) reaction to this week's latest semi-annual U.S.-China Strategic and Economic Dialogue (S&ED).
Commented Scott Paul, Executive Director, Alliance for American Manufacturing:
“I see a lot of ‘commitments’ made by China—both new and recycled—but I don’t see any consequences if China fails to implement these promises. Essentially, China has once again escaped any sanctions by agreeing to abide by pacts that it made ten years ago or more, but has so far failed to implement.
“I don’t view these communiques as terribly valuable. Instead, I look at the facts. I see a record $295 billion trade deficit with China last year. I see 6 out of our top 11 exports to China adding little value or jobs to the American economy, particularly in the scrap metal, scrap paper, and unprocessed commodities categories. I see imports of subsidized Chinese auto parts surging into the United States.
“I’ll be excited when U.S. and Chinese negotiators agree to objective criteria and an acknowledgement of real consequences if those benchmarks are not achieved.”
For more information: Yesterday, Paul, published an op-ed on the U.S.-China talks at CNBC.com. Paul also appeared yesterday on MSNBC's The Dylan Ratigan Show.