Officials welcome trade vows
China says it will crack down on piracy and counterfeiting of U.S. products.
WASHINGTON (AP) -- American companies, who have battled for years against what they see as unfair trade practices by China, are expressing cautious optimism that a number of new agreements will translate into increased U.S. exports into the world's largest market.
The new deals include commitments by China to take action in many areas, from launching a new crackdown on counterfeits of American products to opening more of its markets to U.S. companies, as it promised when it joined the World Trade Organization two years ago.
Bill Primosch, director of international policy for the National Association of Manufacturers, said the agreements yielded promising results, but he cautioned, "We'll need careful monitoring to ensure the Chinese deliver on what they've promised."
The Bush administration hailed the new deals at a signing ceremony with Chinese officials late Wednesday. The administration has faced political attacks at home contending it hasn't done enough to narrow America's soaring trade deficit with China, which hit a record $124 billion last year.
"This is a landmark day and a very fruitful day in terms of the developing relationship between the United States and China," Commerce Secretary Don Evans said.
Joint commission
The deals were reached at a meeting of the U.S.-China Joint Commission on Commerce and Trade, which meets annually to deal with economic issues between the two countries.
The two countries agreed in December to upgrade the commission's status. To emphasize its commitment to that goal, the Chinese sent a 70-member delegation led by Vice Premier Wu Yi, the only woman on China's 24-member ruling Politburo.
The Chinese gave the United States a plan detailing steps it would take to crack down on what U.S. industries say is the rampant piracy and counterfeiting of American products. The plan included stiffer criminal penalties and promised nationwide enforcement actions.
China also pledged to open up its distribution system by allowing U.S. companies to distribute their own products to Chinese stores without having to go through a state-owned distribution company.
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