The American Chamber of Commerce in China (AmCham China) congratulates both the US and China on the signing of the “Phase One” deal in Washington DC this week, signaling the start of a new chapter in bilateral trade and investment relations after 18 months of escalating tariffs. While there will be time in the coming weeks to discuss the precise details of the deal, as an independent business organization bridging both countries, we prefer, for now, to emphasize that the US and China have come together to sign the deal, and agreed to continue to work on further improving the business environment, indicating a return to a more stable, cooperative commercial relationship, which is essential to the world economy in 2020.
As both governments are aware, significant work remains to address longstanding, structural issues in the commercial and economic relationship. The Phase One deal creates positive momentum to make progress on these issues. We will continue to solicit feedback from our members, provide objective information to officials of both countries, and advocate for practical and workable solutions that can create a more level playing field for foreign and domestic companies in China. We will work hard to ensure our members realize the full benefits of the Phase One deal, solidifying the progress that has been made thus far, and laying the groundwork for the important next steps. In 2019, AmCham China marked its 100th anniversary, and we remain committed to fostering US-China commercial relations for the next 100 years.