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entists do their work. On this, the United Ambassador Robert Lighthizer
States is doing its part:
We are learning in this time of crisis how
• Americans have provided nearly $6.5 dependent we all are on the digital economy,
billion in government and non-government and the need to better facilitate digital trade.
assistance and donations to the global
COVID-19 response. This amount accounts We also know that upholding market-oriented
for nearly 60% of global contributions and conditions will be even more important as we
represents the largest country total in the world. eventually phase out the emergency stimulus
measures.
• The United States Federal Reserve has
taken aggressive actions to support markets, But while we are in the midst of the crisis,
businesses, and financial stability at home and we caution against embarking upon new
abroad, providing lending up to $2.3 trillion to plurilateral tariff cutting negotiations, or trying
U.S. households and businesses and cutting the to dictate what the future role of the WTO
rate it charges on exchange swaps with central may be in terms of addressing longer-term
banks all around the world. actions. Indeed, we find it inappropriate to use
this crisis, which has been tragic for the global
• The United States Congress has community, to push other agendas.
appropriated well over $3 trillion in
economic support, a sum equivalent to 15 Thank you again, Mr. President, for calling this
percent of U.S. GDP, and 3 percent of world meeting and for your leadership. We support
GDP. This support for American businesses the statement of this meeting.
and families promotes sustained consumption –
which in turn helps supports economies around
the world.
So with respect to the economics of this crisis,
the United States is acting with urgency on
a large scale – to national as well as global
benefit.
The collective actions we are endorsing today
will complement these unilateral actions. The
United States strongly supports efforts that can
better facilitate trade, promote transparency,
bolster logistics networks, and help the small
businesses most affected by the crisis.
We share the collective interest in continuing
to promote the necessary reforms to the WTO
and taking steps to address the strategic
vulnerabilities in global supply chains.
SOUTH CHINA BUSINESS JOURNAL 12
States is doing its part:
We are learning in this time of crisis how
• Americans have provided nearly $6.5 dependent we all are on the digital economy,
billion in government and non-government and the need to better facilitate digital trade.
assistance and donations to the global
COVID-19 response. This amount accounts We also know that upholding market-oriented
for nearly 60% of global contributions and conditions will be even more important as we
represents the largest country total in the world. eventually phase out the emergency stimulus
measures.
• The United States Federal Reserve has
taken aggressive actions to support markets, But while we are in the midst of the crisis,
businesses, and financial stability at home and we caution against embarking upon new
abroad, providing lending up to $2.3 trillion to plurilateral tariff cutting negotiations, or trying
U.S. households and businesses and cutting the to dictate what the future role of the WTO
rate it charges on exchange swaps with central may be in terms of addressing longer-term
banks all around the world. actions. Indeed, we find it inappropriate to use
this crisis, which has been tragic for the global
• The United States Congress has community, to push other agendas.
appropriated well over $3 trillion in
economic support, a sum equivalent to 15 Thank you again, Mr. President, for calling this
percent of U.S. GDP, and 3 percent of world meeting and for your leadership. We support
GDP. This support for American businesses the statement of this meeting.
and families promotes sustained consumption –
which in turn helps supports economies around
the world.
So with respect to the economics of this crisis,
the United States is acting with urgency on
a large scale – to national as well as global
benefit.
The collective actions we are endorsing today
will complement these unilateral actions. The
United States strongly supports efforts that can
better facilitate trade, promote transparency,
bolster logistics networks, and help the small
businesses most affected by the crisis.
We share the collective interest in continuing
to promote the necessary reforms to the WTO
and taking steps to address the strategic
vulnerabilities in global supply chains.
SOUTH CHINA BUSINESS JOURNAL 12
