Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • HUMANITARIAN
    • TIRE MAKERS
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • MID YEAR REPORT
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Government - Law
January 27, 2020 05:30 PM

Mobility Talks panelists give 'Phase I' mixed reviews

Miles Moore
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    WASHINGTON — The "Phase I" trade agreement between the U.S. and China received mixed reviews from panelists at Mobility Talks International, held Jan. 22 as part of the annual Washington Auto Show.

    "The good news is that the U.S. and China have signed a truce," said Mary Lovely, senior fellow at the Peterson Institute for International Economics, regarding the agreement signed Jan. 15. "We can expect no new tariffs, at least for a while."

    The bad news is that U.S. auto and auto parts manufacturers are not among the beneficiaries of the Phase I pact, Ms. Lovely said.

    Of all U.S. manufacturing sectors, autos and auto parts suffered the biggest impact from the escalating tariffs between the U.S. and China during the Trump administration, she said.

    "Trade wars are not very good for exports as well as imports," Ms. Lovely said. "They are also not very good for the trade deficit."

    Government and industry must assess the Phase I agreement to determine how it affects business investment, she said.

    "The U.S. has now officially endorsed managed trade. The jury is still out on whether the high cost of the trade war was worth it."

    Alan R. Turley, deputy assistant secretary of commerce for China and Mongolia, praised Phase I as "a step toward a more balanced trade relationship" between the U.S. and China.

    Mr. Turley said the agreement contains several important concessions on China's part, especially in the areas of trade-secret protection and enforcement against trademark pirating.

    "China also promised to stop forcing American companies to transfer technology in exchange for market access," he said. Previously, the Chinese boards that controlled licensing were filled with representatives of companies in competition with U.S. firms.

    "Phase I represents a strong commitment to enforceability," Mr. Turley said. "But the biggest part for our office is that China committed to buying $200 billion worth of goods and services from the U.S. over the next two years. This is a tremendous opportunity to sell new goods and services to China."

    Craig Allen, president of the U.S.-China Business Council, said his organization also welcomes Phase I.

    "The agreement opens up the financial services market to U.S. entities," Mr. Allen said. "While it's a little bit tangential to the vehicle and vehicle parts market, it's important to selling vehicles in China."

    However, the auto industry is less happy with other aspects of the agreement, according to Mr. Allen.

    "One word that never appears in the text of the agreement is 'tariff,'" he said. "No wonder that auto parts executives are unhappy at that uncertainty."

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Icahn-owned Auto Plus files for Chapter 11 protection
    2
    Goodyear to trim jobs amid 'uncertain' economic outlook
    3
    Gills Point S acquires Hogan Tires of Maine
    4
    Bridgestone Americas creates corporate philanthropy post
    5
    Truck sector leads U.S. tire market; consumer down
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • HUMANITARIAN
      • TIRE MAKERS
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • MID YEAR REPORT
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION