China Expresses Concerns Over U.S. Export Control Proposal
Today's China Daily reports that China's Ministry of Commerce (MOFCOM) said that the Bureau of Industry and Security's (BIS) proposed rule to expand licence requirements for high-technology companies exporting to China will "stifle business and increase uncertainty over bilateral trade." A MOFCOM spokesperson said that the proposed rule would "set 'unreasonable obstacles' to trade and harm the interests of firms in both countries."
The article notes that U.S. Trade Representative Susan Schwab argued during her recent visit to Beijing that the products affected by the new rules account for only a small proportion of China-U.S. trade and would not have a serious impact on overall trade. Not surprisingly, the military-catch all proposed rule was not even mentioned in USTR Schwab's speech to the AmCham China – US China Business Council event that was held in Beijing earlier this week.
Labels: BIS, Export Controls
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