《China’s Trade with the United States and the World》.pdf

Order Code RL31403 CRS Report for Congress Received through the CRS Web China’s Trade with the United States and the World Updated August 18, 2006 Thomas Lum Specialist in Asian Affairs Foreign Affairs, Defense, and Trade Division Dick K. Nanto Specialist in Industry and Trade Foreign Affairs, Defense, and Trade Division Congressional Research Service ˜ The Library of Congress China’s Trade with the United States and the World Summary As imports from the People’s Republic of China (PRC) have surged in recent years, posing a threat to some U.S. industries and manufacturing employment, Congress has begun to focus on not only access to the Chinese market and intellectual property rights (IPO) protection, but also the mounting U.S. trade deficit with China as well as allegations that China is selling its products on the international market at below cost (dumping), engaging in “currency manipulation,” and exploiting th its workers for economic gain. Members of the 109 Congress have introduced several bills that would impose trade sanctions on China for intervening in the currency market or for engaging in other acts of unfair trade, while the Bush Administration has imposed anti-dumping duties and safeguards against some PRC products and pressured China to further revalue its cur