CHINA/COMMERCE/TRADE DEALS/WILBUR ROSS: “When Commerce Secretary Wilbur Ross announced in May the ‘herculean accomplishment’ of extracting Chinese promises to open swiftly long-restricted markets in finance and agriculture, he pronounced the actions ‘more than has been done in the whole history of U.S.-China relations on trade.’
Now, as the two countries mark Sunday’s [7-16-17] deadline for completing the agreements, affected American companies say Beijing has met the letter of its pledges, yet fallen short of the spirit. Their assessment: slow, modestly improved access in some sectors, while lingering obstacles in others will continue to stymie foreign firms for years, even as specific targeted barriers have been removed.
‘They’ve delivered on the promises by the date they’ve been required, but they could do more,’ said Jake Parker, vice president for the U.S.-China Business Council, which represents American companies in China and has been monitoring the agreements. While the changes ‘indicate from the Chinese perspective that their market is open,’ Mr. Parker said, ‘whether foreign companies can actually operate there is still unclear’ in some industries.”
-Jacob M. Schlesinger, Jacob Bunge, AnnaMaria Andriotis, “‘Herculean’ U.S.-China Trade Deal Gets Less-Than-Heroic Reviews,” The Wall Street Journal online, July 16, 2017 09:09pm