Republican lawmaker urges US, China investment treaty


AP

WASHINGTON — A top Republican lawmaker is calling on the Obama administration to pursue a bilateral investment treaty with China and press Beijing on its currency policy at talks next week.

Dave Camp, chair of a congressional panel that oversees revenue and trade policy, said Thursday that China needs to open up its markets more to the U.S. and end trade-distorting policies. He voiced concern that countries such as Brazil, India and Argentina were emulating some of China’s poor trade practices.

Camp noted encouraging signs as China looks to rebalance its economy away from export-led growth, but said the U.S. should continue to press Beijing to let market forces determine its currency value.

He said next week’s U.S.-China Strategic and Economic Dialogue in Beijing will provide an opportunity to do that.