U.S. Sen. Shelley Moore Capito (R-WV) and U.S. Reps. Frank Lucas (R-OK) and Darin LaHood (R-IL) on Jan. 15 praised the president’s signing of the new U.S.-China Phase One Trade Agreement.
“Fair trade rules and policies are needed to protect U.S. jobs and promote economic growth in our country,” said Sen. Capito, who joined President Donald Trump for the signing. “China has been ripping us off for far too long and we want them to play by the rules, which is why I’ve been very involved in making sure these unfair trade practices are addressed.”
The agreement requires structural reforms to China’s economic policy in intellectual property, agriculture, financial services, currency and foreign exchange, and important aspects of China’s technology transfer policies, according to information provided by the lawmakers.
“This preliminary deal is a step in the right direction,” said Sen. Capito. “I’m particularly glad to see that provisions were included that will address metallurgical coal and hardwood exports, which will promote business certainty in West Virginia and help them plan ahead.”
Rep. LaHood (R-IL), who also was present during the president’s signing of the agreement, agreed that, “For far too long, China has taken advantage of the United States on trade, and the phase one deal is a historic step forward that achieves real progress for producers in the heartland.”
Illinois’ farmers and manufacturers rely on the Chinese market to sell their goods, added Rep. LaHood, who said China represents one of the state’s largest export markets, accounting for 25 percent of all Illinois agriculture exports. The new agreement means producers now will start to regain that access, Rep. LaHood said.
“In addition, U.S. companies will see a more level playing field in the areas of forced technology transfers and intellectual property rights,” he said.
Rep. Lucas also applauded the Trump administration for making good on the president’s promise to support America’s industries by “delivering a strong and enforceable commitment from China leveling the playing field for America’s farmers, workers, manufacturers, and businesses.”
“The historic agreement signed today takes a strong stand for American jobs and America’s workers,” Rep. Lucas said. “It protects America’s intellectual property, ends China’s unfair technology transfer process, opens financial services markets, and, most importantly, expands American agriculture, energy, and manufacture sales to China.”
The congressman also called the agreement positive news for Oklahoma’s farmers and ranchers because it “begins the process of holding China accountable to its trade commitments.” Oklahoma exported $239 million in goods to China in 2018, including $96 million of agricultural products, he added.