WASHINGTON - Senate Finance Committee Chairman Orrin Hatch (R-Utah) today released the following statement regarding the administration’s announcement that tariffs will be imposed on Chinese products under Section 301 of the Trade Act of 1974:
“The president’s commitment to confronting the threat China poses to American innovation and our job creators, workers and entrepreneurs is laudable. The Chinese government maintains an aggressive technology transfer regime that targets U.S. companies and includes direct participation by the government in the theft of American intellectual property.
“Tariffs will harm American and Chinese businesses and consumers, and will put economic growth in both countries at risk. China must take responsibility and act expeditiously to change its policies to avoid the damaging effects of tariffs and escalating retaliation. America’s trade strategy must focus on combatting China’s discriminatory and market-distorting practices. Ill-conceived trade actions that weaken the American economy, alienate allies, and invite retaliation against American businesses, farmers, and ranchers, undermine our nation’s ability to successfully confront China’s unfair trade policies."
Background: A longtime advocate of establishing enforceable international rules for U.S. firms and workers doing business overseas, Hatch has fought to strengthen intellectual property rights (IPR) standards around the globe. Hatch authored legislation to increase U.S. enforcement of American IPR overseas, including improvements to the Special 301 mechanism and the establishment of a Chief Intellectual Property Negotiator at the Office of the U.S. Trade Representative (USTR). Hatch also spearheaded efforts in Congress to enact bipartisan Trade Promotion Authority (TPA) to help open more markets for U.S. exports and strengthen IPR protections in U.S. trade agreements, and he led enactment of the Defend Trade Secrets Act of 2016.
Source: Ranking Member’s News
