November 2017 Trade Bulletin

Date: 

Friday, November 3, 2017

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Summary: 

Highlights of This Month’s Edition • Bilateral trade: In the third quarter of 2017, the U.S. goods trade deficit with China grew 6.7 percent due to increased imports; U.S. services exports to China reach a new record, driven by increases in tourism, financial services, and intellectual property payments. • Bilateral policy issues: In a setback to China’s pursuit of market economy status, the EU adopts a new antidumping methodology and the United States implements new duties on imports of Chinese aluminum; U.S. experts and industry groups highlight several intellectual property and technology transfer challenges in China as part of the Administration’s Section 301 investigation. • Policy trends in China’s economy: China delays a food safety certification program that would put $22 billion of U.S. exports at risk by two years; after lobbying by the EU, China ends a discriminatory ban on soft cheese imports; China’s government announces changes to China’s drug approval process that—if fully implemented—may reduce approval delays for U.S. drugs by several years. • Quarterly review of China’s economy: Chinese government ensures high rate of growth for China’s economy in the run-up to the 19th Party Congress, but problems remain unaddressed. • Sector focus – Electric Vehicles: China transforms into the global electric vehicle leader by leveraging state support and excluding foreign competitors.

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