The U.S. Senate voted to include the Trade Act of 2021 into the U.S. Innovation and Competition Act.
A vote of 91-4 adopted the amendment, which was introduced by the Senate Finance Committee Chair Ron Wyden (D-OR), and Ranking Member Mike Crapo (R-ID).
“This is not just an amendment on one topic, this is an entire title—the Finance Committee’s title—and the Chairman of the Finance Committee, Senator Wyden, and I have worked together for months to identify that intersection between Republicans and Democrats in the Senate on trade policy,” Crapo said. “This strong trade package will help stand up our efforts in pushing back against China in one of the most critical arenas that we face – trade, our economy, and working against the very nefarious activities that China is engaged in to try to undercut us economically, and to undercut our American companies in our trade relationship.”
The Trade Act of 2021 seeks to combat China’s manufacturing imbalances, threats to free and fair trade, and illicit activity, undermining America’s leadership in innovation. Further, by seeking to thwart these practices by China, it would level the playing field for American consumers and companies, including workers, farmers, fishers, and families.
“For decades, the Chinese government has manipulated global competition and trade in their favor to grow at America’s expense. It rips off IP, steals technology, and sends dangerous counterfeits to our market. It undercuts manufacturers with overproduction and unfair subsidies. It uses censorship and discriminatory digital policies against its own population and American businesses alike. Worst of all is the practice of forced labor – morally repugnant on its own, and also a threat to American jobs,” Wyden said. “Senator Crapo and I passed an amendment that goes after these rip-offs directly. It’s about leveling the playing field with stronger trade rules and quicker enforcement, as well as greater transparency in trade.”
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