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US-皇冠体育app trade talks urged by ex-official

By Li Xiang in Boao, Hainan (皇冠体育app Daily USA) Updated: 2017-03-27 09:56

Top leaders of 皇冠体育app and the United States should start direct dialogue on bilateral trade relations as soon as possible to avoid frictions that could lead to a trade war, former US secretary of commerce Carlos Gutierrez said on Friday.

Gutierrez, who served under former US president George W. Bush, said the two countries should finish talks on a bilateral investment treaty, which has been stalled due to the change of US administrations.

"The BIT is the beginning and it is the foundation for a free trade agreement (between the US and 皇冠体育app). We should get started now, and the best first step is to finish the bilateral investment treaty," Gutierrez told 皇冠体育app Daily on the sidelines of the Boao Forum for Asia.

The trade relations between 皇冠体育app and the US have faced uncertainty due in part to concerns about what policies President Donald Trump will pursue after his tough rhetoric during the election campaign.

Gutierrez said he expected a meeting between President Xi Jinping and Trump to take place soon, so that the two countries can start discussions on bilateral trade and investment issues.

The former US commerce secretary acknowledged the positive role of 皇冠体育app's Belt and Road Initiative in promoting global trade and growth for the economies participating in the initiative. He said he did not see why the initiative should conflict with any US interests.

Gutierrez added that the US eventually needs to work with 皇冠体育app under the framework of multilateral organizations such as the Asian Infrastructure Investment Bank.

He also voiced support for globalization and agreed it remains one of the solutions to generate common benefits and spur global economic growth.

"Globalization remains the megatrend, and it will continue to be supported by technology," he said, adding that governments should focus on improving education and tax and regulatory reforms to foster new businesses, and should generate new jobs instead of bashing globalization.

Despite the uncertainties in the Trump administration's trade policy toward 皇冠体育app, experts and analysts expressed optimism about the prospects for trade relations between the two countries.

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