China, US announce series of trade agreements
Updated: 2010-12-16 11:08
WASHINGTON - The Obama administration said Wednesday that two days of talks with a high-level delegation from China produced results that should benefit US companies ranging from manufacturers of computer software and wind turbines to beef producers.
The agreements touched on areas that have been the source of sharp discord between the two nations, and which a series of US administrations have failed to resolve.
Agriculture Secretary Tom Vilsack said that China had agreed to allow American beef exports back into China on a staged basis and he hoped the first shipments would be made in early 2011. A team from the Department of Agriculture will visit China in early January in an effort to clear up remaining inspection issues, he said.
Chinese Vice Premier Wang Qishan, speaking through a translator, said that during this week's talks China reaffirmed its desire to allow the resumption of American beef imports from animals under the age of 30 months.
US Trade Representative Ron Kirk said he was happy with China's commitments to boost government spending in the area of software purchases as a way to cut down on the use of pirated software.
The US side said that significant agreements had also been reached that should boost export sales by American wind turbine manufacturers and heavy equipment. In one agreement, China agreed to revise a catalog governments use to purchase heavy machinery and industrial machinery to make sure it does not discriminate against foreign suppliers.
The two countries also signed seven new deals covering such areas as agricultural trade, including US soybean exports to China, and the promotion of investment in the United States.
The talks took place as the 21st session of the Joint Committee on Commerce and Trade, which was established in 1983, to provide a channel for both countries to address trade disputes. The panel does not cover one major area of disagreement at the moment, China's currency policy.
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