Schwab: China's trade policy 'a real problem'
25 January 2008
US Trade Representative Susan Schwab said she doesn't believe America's trade deficit with China is sustainable, suggesting that China's trade policy represents "a real problem," AP reported. Speaking in an interview, Schwab said "to the extent that the [trade imbalance] could be attributed to trade policy - meaning illegal barriers, unfair subsidies, violations of intellectual property rights, counterfeiting, piracy - then that's a real problem." The US trade deficit with China, which has grown by an average of 22% per year for the last five years, is expected to set a new record in 2007. Meanwhile, the WTO is due to make a series of major decisions this year on intellectual property laws and trade restrictions that will strongly impact US-China trade.