| FOR IMMEDIATE RELEASE |
CONTACT:
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| October 29, 2003 |
Kate Dwyer: 202-226-7326
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Ways and Means Committee to Hold Hearing on China Trade Abuses
House Passes China Trade Resolution, Demonstrating Support for U.S. Manufacturers
WASHINGTON
– The House Ways and Means Committee, on which Wisconsin’s First District
Congressman Paul Ryan serves, will hold a hearing this week on United
States-China economic relations and trade matters. The hearing will take place on Thursday, October 30 at 2pm
(Eastern time) and on Friday, October 31 at 9am.
Additionally,
the House of Representatives today passed a resolution – H.Res. 414 – to
send a strong message to China to fulfill its obligations under international
trade agreements. Ryan cosponsored
this resolution, which acknowledges serious concerns that many of the
commitments China made upon joining the World Trade Organization (WTO) have not
yet been implemented or that implementation has been inadequate, and it calls on
China to live up to its WTO commitments. The
resolution also urges the Administration to continue its intensive discussions
with Chinese government officials on moving to a market-based valuation of the
Chinese currency, relaxation of capital controls, and reform of the banking
sector.
“We
cannot ignore China’s trade abuses and look the other way as unfair practices
hurt Wisconsin manufacturers,” Ryan said.
“China is now a member of the World Trade Organization, so it is
supposed to play by the rules. We
need to hold China accountable for how it manipulates its currency and trade
with our country. Our businesses
deserve an even playing field on which to compete, and this hearing will help us
get to the bottom of the problems with U.S.-China trade relations.”