Washington, D.C. – U.S. Senators Pat Toomey (R-Pa.) and
Mark Warner (D-Va.) issued the following joint statement on the deal to give
European Union businesses a preferential investment environment in China:
“America’s go-it-alone approach to trade
over the past four years has harmed American workers, consumers, and
businesses, all of whom have paid the cost of various punitive tariff
campaigns. It also diminished domestic economic growth, alienated longstanding
allies, and undermined America’s global standing.
“It is encouraging that President-elect
Biden would like the European Union to wait until he takes office to finalize
an investment deal with China. A multilateral approach is necessary to confront
China on issues like its abusive labor conditions, unfair and opaque subsidies,
forced technology transfers, intellectual property theft, and more.
“The United States has a long history of
working with our allies to break down barriers to expanding trade and promoting
a rules-based system founded on transparency, reciprocity, and fairness.
Another such opportunity exists right now. We strongly encourage our friends in
the European Union to delay any agreement with China so that the next Congress
and president can work alongside them in ending China’s illegal and unfair
trade practices and threats to global supply chain integrity.”