December 31, 2020

Chairman Risch Statement on EU-China Investment Agreement

BOISE, Idaho – U.S. Senator Jim Risch (R-Idaho), chairman of the Senate Foreign Relations Committee, today released the following statement on the new investment agreement between the European Union (EU) and the People’s Republic of China (PRC):

“I have taken note of the EU’s decision to conclude an investment agreement with the PRC. The agreement is said to have obtained commitments that China has been unwilling to make for decades, including transparency in its subsidies, a prohibition on forced technology transfers, and a commitment for state-owned enterprises to make decisions solely on commercial factors. As with the U.S.-China Phase 1 deal concluded in January 2020, the most difficult tasks will be to ensure vigorous enforcement of these commitments and take action if China does not live up to its promises.

“Despite these agreements, the United States and the EU still face a myriad of economic, trade, and technology challenges that arise from the Chinese government’s policies and practices. Both sides of the Atlantic must sustain our combined momentum on these issues, and the EU-China agreement must not become an impediment to that collaboration.

“I look forward to engaging with EU counterparts on the details of this agreement, and to advancing a cooperative agenda going forward.”

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