This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gutierrez Talks Trade in China

BEIJING -- Commerce Secretary Carlos Gutierrez said Tuesday that he will push China to continue opening its markets and at the same time ask authorities to crack down on rampant counterfeiting of American goods, especially movies and music.

Such moves "could help close the trade gap between our countries," he told Chinese and U.S. officials at a high-level discussion on piracy. Gutierrez was in Beijing to pressure local officials on measures that might help reduce the massive trade deficit the U.S. has with China.

In October, China's trade surplus with the U.S. was roughly $23 billion. JPMorgan cautioned in a report earlier this week that the surplus is likely to spiral even higher, helped along by demand for Chinese-made goods leading up to Christmas.

"The huge and growing surplus is likely to intensify trade frictions and protectionist initiatives against China's exports, especially in the U.S. and the European Union ," JPMorgan said.

Gutierrez said that China has exacerbated the frustration over the trade deficit by allowing widespread theft of intellectual property to persist. "Those who espouse protectionism as a legitimate economic policy have a loud voice," he said.

Last year, exasperated U.S. officials threatened to take China before the World Trade Organization unless it improves enforcement of antipiracy laws. Asked to comment on the likelihood of such an event, Gutierrez struck a diplomatic note before an audience of reporters, saying the "preference is to resolve these issues through dialogue."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
GM $35.88 0.83%
NWS $15.52 0.58%
PFE $34.92 -0.99%
SBUX $50.98 -1.60%
AAPL $131.68 1.10%

Markets

DOW 18,081.11 +0.97 0.01%
S&P 500 2,112.41 -5.28 -0.25%
NASDAQ 5,062.5960 -29.4890 -0.58%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs