(Owen Churchill – South China Morning Post)
The US and China have agreed to an enforcement mechanism that ensures Beijing follows through on promised reforms if a deal to end the trade war is reached, US Trade Representative Robert Lighthizer told the House Ways and Means committee on Wednesday.
The mechanism would consist of monthly meetings at the office director level, quarterly meetings at the vice-ministerial level, and semi-annual meetings at the ministerial level, with these last meetings convened by Lighthizer and China’s vice-premier Liu He, the top US trade negotiator testified.
The mechanism ostensibly answers a US concern that any final agreement brokered by Washington and Beijing to end the trade war would be specific, measurable and enforceable at all levels of Chinese government – a condition Lighthizer made a point of his testimony before the committee. Click here to read more.
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- Wall Street Falls After Lighthizer’s Comments on Trade Talks (Reuters)