On November 28, U.S. Principal Commercial Officer for the U.S. Consulate General in Shanghai, Cameron Werker, provided AmCham Shanghai and U.S.-China Business Council (USCBC) members a recap and debrief of the most recent U.S/-China Joint Commission on Commerce and Trade (JCCT) meeting in Washington, D.C. This year’s JCCT, the 27th round, took place in Washington, D.C. just before the Thanksgiving holiday from November 21-23. Although the joint statement from the U.S. and Chinese governments has not yet been released, Mr. Werker was able to share some insights and key takeaways from the dialogue.
As can be read in more detail here, there were six key outcome areas that Mr. Werker focused his discussion on. These included: reaffirming past commitments and ensuring that both the U.S. and China are holding up to their agreements; China committed to strengthen its oversight of the government procurement process at the provincial and local levels to ensure that foreign companies are treated fairly; China committed to continuing to improve its IPR protection in a number of ways and strengthen its protection of trade secrets; the U.S. and China agreed to continue to work to address overcapacity in China; China confirmed that its secure and controllable policies “will not limit sales opportunities for foreign companies or impose nationality-based restrictions, and will be notified to the WTO Technical Barriers to Trade Committee”; and China agreed that its semiconductor development fund would be awarded based on market principles and that the government would not play a role in divvying out the money.
Mr. Werker also took questions from the members in attendance on topics that included the future of the JCCT, the impact of the election of President-elect Donald Trump, and China’s key goals for the JCCT.