On Tuesday, October 25, the House Ways And Means Committee held a hearing to receive testimony concerning the U.S.-China economic relationship. In announcing the hearing, Committee Chairman Dave Camp, R-Mich., stated: "The Chinese market presents enormous potential for growing U.S. exports, which support American jobs. But China purposefully makes it harder to sell our goods and services, unfairly subsidizes its own companies, and blatantly steals the intellectual property of American businesses. China's distorting trade policies are deeply troubling and cannot be allowed to stand. Its practices are costing U.S. jobs. China has benefited greatly from globalization, and it must abide by the same rules that afforded it that prosperity. The President and his Administration should continue to press China to open its markets through every available avenue. And when China has violated its international obligations, the United States must aggressively enforce its rights. I look forward to hearing the Administration's plan for addressing China's persistent barriers to U.S. exports and investment and exploring what should be done to ensure American employers and workers are treated fairly."

The hearing's focus was on the opportunities and challenges for U.S. companies, workers and farmers that do business in the Chinese market; and officials from the Obama administration were invited to present the administration's plans to deal with trade and investment barriers imposed by China that hamper U.S. companies' abilities to compete with Chinese companies on a level playing field. On the roster to present oral testimony were Deputy United States Trade Representative (USTR) Demetrios J. Marantis and U.S. Department of the Treasury Under Secretary for International Affairs Dr. Lael Brainard. The National Council of Textile Organizations (NCTO) and the Fair Currency Coalition (FCC) have submitted written testimony, and other interested organizations and individuals also may submit written testimony by the close of business Nov. 8, 2011.

Listed below are links to the oral and written testimony noted above:

USTR: Oral Testimony by Deputy United States Trade Representative Demetrios J. Marantis Before the House Committee on Ways and Means

U.S. Department of the Treasury: Under Secretary for International Affairs Dr. Lael Brainard Testimony Before the House Committee on Ways and Means on the U.S.-China Economic Relationship

NCTO: NCTO Statement to the Hearing Record: The U.S.-China Economic Relationship

FCC: Written Statement of the Fair Currency Coalition for the Hearing on the U.S.-China Economic Relationship

October 25, 2011