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By U.S. Chamber of Commerce
By U.S. chamber of commerce
WASHINGTON, D.C. — The U.S. Chamber of Commerce The report also highlights that, while the United States has a
released a report which reveals that reducing or eliminating relatively open market to Chinese agricultural products, imports
relevant tariffs and other behind-the-border barriers between the from China also have significant opportunity for growth. In order
United States and China could result in $28.1 billion in additional to achieve this growth, the report recommends that the United
cumulative gains in two-way agricultural sector trade over 2016- States maintain its openness, and refrain from implementing
2025. The United States would realize gains of $17.6 billion – a unnecessary regulatory burdens, while maintaining product
nearly 40% increase over baseline projections. safety.
“Agricultural trade has historically been a bright spot in the two- The report, Cultivating Opportunity: The Benefits of Increased
way trade relationship between the U.S. and China, and there U.S.-China Agricultural Trade, was produced in partnership with
remains significant unrealized potential,” said Jeremie Waterman, Informa Economics.
U.S. Chamber Executive Director for Greater China and Senior
Policy Advisor for Asia. “As the world’s two largest economies, “This study highlights the significant untapped opportunities for
efforts by the U.S. and China to reduce agricultural trade barriers both sides in two-way agricultural trade and provides a timely
would benefit not only our economies, but the rest of the world.” roadmap for policymakers to realize them,” said Waterman.
To realize these gains, the report recommends that China make “Leaders from both countries have an immediate opportunity to
the following reforms: achieve concrete progress on this critical agenda when they gather
• adhere to timely, predictable, and science-based in Washington later this week for the 27th meeting of the Joint
approaches for approvals of agricultural biotechnology and Commission on Commerce and Trade (JCCT).”
equitable treatment for foreign animal vaccine products and
imports; The U.S. Chamber of Commerce is the world’s largest business
• implement improved animal health management with federation representing the interests of more than 3 million
veterinary pharmaceuticals and vaccines; businesses of all sizes, sectors, and regions, as well as state and
• increase transparency for existing Tariff Rate Quota local chambers and industry associations. Its International Affairs
allocations for commodities, and ensure they are large enough to division includes more than 70 regional and policy experts and 25
be commercially viable; and country- and region-specific business councils and initiatives. The
• eliminate subsidies for domestic farm machinery, or U.S. Chamber also works closely with 117 American Chambers of
make these subsidies available to foreign brands, encouraging Commerce abroad.
the use of the latest equipment and increasing food production
through advanced farm mechanization.
10
By U.S. Chamber of Commerce
By U.S. chamber of commerce
WASHINGTON, D.C. — The U.S. Chamber of Commerce The report also highlights that, while the United States has a
released a report which reveals that reducing or eliminating relatively open market to Chinese agricultural products, imports
relevant tariffs and other behind-the-border barriers between the from China also have significant opportunity for growth. In order
United States and China could result in $28.1 billion in additional to achieve this growth, the report recommends that the United
cumulative gains in two-way agricultural sector trade over 2016- States maintain its openness, and refrain from implementing
2025. The United States would realize gains of $17.6 billion – a unnecessary regulatory burdens, while maintaining product
nearly 40% increase over baseline projections. safety.
“Agricultural trade has historically been a bright spot in the two- The report, Cultivating Opportunity: The Benefits of Increased
way trade relationship between the U.S. and China, and there U.S.-China Agricultural Trade, was produced in partnership with
remains significant unrealized potential,” said Jeremie Waterman, Informa Economics.
U.S. Chamber Executive Director for Greater China and Senior
Policy Advisor for Asia. “As the world’s two largest economies, “This study highlights the significant untapped opportunities for
efforts by the U.S. and China to reduce agricultural trade barriers both sides in two-way agricultural trade and provides a timely
would benefit not only our economies, but the rest of the world.” roadmap for policymakers to realize them,” said Waterman.
To realize these gains, the report recommends that China make “Leaders from both countries have an immediate opportunity to
the following reforms: achieve concrete progress on this critical agenda when they gather
• adhere to timely, predictable, and science-based in Washington later this week for the 27th meeting of the Joint
approaches for approvals of agricultural biotechnology and Commission on Commerce and Trade (JCCT).”
equitable treatment for foreign animal vaccine products and
imports; The U.S. Chamber of Commerce is the world’s largest business
• implement improved animal health management with federation representing the interests of more than 3 million
veterinary pharmaceuticals and vaccines; businesses of all sizes, sectors, and regions, as well as state and
• increase transparency for existing Tariff Rate Quota local chambers and industry associations. Its International Affairs
allocations for commodities, and ensure they are large enough to division includes more than 70 regional and policy experts and 25
be commercially viable; and country- and region-specific business councils and initiatives. The
• eliminate subsidies for domestic farm machinery, or U.S. Chamber also works closely with 117 American Chambers of
make these subsidies available to foreign brands, encouraging Commerce abroad.
the use of the latest equipment and increasing food production
through advanced farm mechanization.
10
