ITC LAUNCHES FIRST OF THREE INVESTIGATIONS
ON U.S. TRADE WITH CHINA
The U.S. International Trade Commission (ITC or Commission) today announced that it has launched the first of three investigations that collectively will provide an in-depth assessment of the U.S.-China trade and investment relationship and the U.S.-Asia-Pacific trade and investment relationship.
The three investigations were requested by the Committee on Ways and Means, U.S. House of Representatives, in a letter received on October 2, 2006. In requesting the investigations, the Committee noted that there has been extensive debate about the causes of the recent growth in U.S.-China trade, particularly exports from China, and the extent to which this growth is driven by market forces or by Chinese domestic policies.
The ITC, an independent, nonpartisan, factfinding federal agency, will produce three reports for the Committee over the next 24 months. As requested, each report will focus on specific aspects of the U.S.-China trade relationship, including trends and patterns in trade and foreign direct investment (FDI) between the United States and Asian and Pacific trading partners (first report), the driving factors behind the rapid growth in U.S.-China trade (second report), and China's integration with the global economy through processing trade and foreign direct investment (third report).
The ITC will deliver its first report in the series to the Committee by October 2, 2007. The agency will launch the second investigation in April 2007 and the third investigation in October 2007; details regarding those investigations will be announced at the time they are initiated.
The ITC's first investigation, U.S.-Asia-Pacific Trade and Investment Trends and Implications for the U.S.-China Trade Relationship, will analyze the linkages between trade and investment among Asia-Pacific countries and the United States. It will take a broad analytical approach to understanding U.S.-China trade in the context of evolving trade and investment trends in the Asia-Pacific region and the factors that have contributed to these trends.
The report will include a discussion of the main factors influencing these trends, an in-depth examination of the industries that have had a major effect on trade and investment patterns in recent years and, if required, formal quantitative analyses that help to explain these trends as well as an assessment of the reliability of the data used in each analysis. The study will review the relationship between international trade and FDI, the trade and investment policies in the major countries of the region, and the effect of those policies on economic activity both on a global scale and within the Asian and Pacific region.
The ITC will hold a public hearing in connection with the investigation at 9:30 a.m. on March 8, 2007. Requests to appear at the public hearing should be filed with the Secretary, United States International Trade Commission, 500 E Street SW, Washington, DC 20436, and must be received no later than 5:15 p.m. on February 22, 2007.
The ITC also welcomes written submissions for the record. Written submissions (one original and 14 copies) should be addressed to the Secretary, U.S. International Trade Commission, at the above address and should be filed at the earliest practical date, but no later than 5:15 p.m. on March 22, 2007. All written submissions, except for confidential business information, will be available for public inspection.
Further information on the scope of this investigation and appropriate submissions is available in the ITC's notice of investigation, dated November 2, 2006, which may be obtained from the ITC Internet site (www.usitc.gov) or by contacting the Office of the Secretary at 202-205-2000.
ITC general factfinding investigations, such as this one, cover matters related to tariffs or trade and are generally conducted at the request of the U.S. Trade Representative, the Senate Committee on Finance, or the House Committee on Ways and Means. The resulting reports convey the Commission's objective findings and independent analyses on the subject investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the ITC submits its findings and analyses to the requester. General factfinding investigations reports are subsequently released to the public, unless they are classified by the requester for national security reasons.