{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='CHINA: SOARING TRADE DEFICIT WITH US THREATENS TO SPOIL RELATIONS' data-url='/boclips/videos/5c54c074d8eafeecae14adc4' data-video-url='/boclips/videos/5c54c074d8eafeecae14adc4' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nCHINA: SOARING TRADE DEFICIT WITH US THREATENS TO SPOIL RELATIONS\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eMandarin/NatChina's soaring trade deficit with the United States threatens to spoil steadily improving relations, a senior US trade official warned on Wednesday.US Undersecretary of Commerce David Aaron urged Chinese trade and industry...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eMandarin/Nat\u003cbr/\u003eChina's soaring trade deficit with the United States threatens to spoil steadily improving relations, a senior US trade official warned on Wednesday.\u003cbr/\u003eUS Undersecretary of Commerce David Aaron urged Chinese trade and industry ministers in two days of meetings to do more to open markets, revive a seemingly stalled effort to join the World Trade Organisation and head off a confrontation with Washington.\u003cbr/\u003eIt was a shot across the bow after months of friendly relations following President Clinton's June summit in Beijing.\u003cbr/\u003eChina is simply not doing enough, David Aaron said, to open its markets and trade fairly.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The lack of progress on bilateral market access issues and the\u003cbr/\u003eslow down in WTO accession talks are cause for serious concern.\u003cbr/\u003eThey represent key trade objectives for both countries. China's\u003cbr/\u003edecision not to offer concessions that could have led to an\u003cbr/\u003eacceptable agreement is taking a toll on our bilateral commercial\u003cbr/\u003erelationships. Our trade deficit with China is more than 1 (b)\u003cbr/\u003ebillion dollars a week. In the time it takes us to have\u003cbr/\u003elunch this afternoon the deficit will increase by about 13 (m)\u003cbr/\u003emillion dollars. This frankly is politically unsustainable.\"\u003cbr/\u003eSUPER CAPTION: David Aaron, U.S. Under Secretary of Commerce.\u003cbr/\u003eChinese leaders may be taking foreign investment for granted, Aaron said.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"I have heard it said that foreign investors really have no\u003cbr/\u003echoice. China is such a huge potential market that foreign companies\u003cbr/\u003ehave to be here. Certainly we want to be here.\"\u003cbr/\u003eSUPER CAPTION: David Aaron, U.S. Under Secretary of Commerce.\u003cbr/\u003eYears of frustrating obstacles, tangled bureaucracy and forbidding restrictions have soured the view of many investors, Aaron said.\u003cbr/\u003eFew of whom, he added, are making any money.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"I believe Chinese authorities may also have underestimated the\u003cbr/\u003elevel of frustration in the foreign business community. To continue\u003cbr/\u003eto attract the international capital that China needs to sustain\u003cbr/\u003egrowth and to ease the consequences of restructuring, China's\u003cbr/\u003einvestment environment will need to become more attractive.\"\u003cbr/\u003eSUPER CAPTION: David Aaron, U.S. Under Secretary of Commerce.\u003cbr/\u003eChina's trade surplus with the United States is projected to reach 60 billion dollars by the end of the year -- more than 1billion dollars a week -- a 20 percent increase over 1997's level, Aaron said.\u003cbr/\u003eThe unusually blunt tone Aaron took before the U.S. business community signals a resurgence in trade tensions after a relaxing year or so while U.S. and Chinese presidents Bill Clinton and Jiang Zemin held summit meetings.\u003cbr/\u003eAaron said his message registered with the high-ranking officials he met. It's time for action, he said.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The bottom line is that China must buy more from the U.S. and better treat U.S. businesses that are already here.\"\u003cbr/\u003eSUPER CAPTION: David Aaron, U.S. Under Secretary of Commerce.\u003cbr/\u003eChina reacted angrily this month when Washington set a 90-day deadline for new rules requiring treatment and certification of wooden packaging from China to prevent the destructive Asian long-horned beetle from infesting shipments.\u003cbr/\u003eThe regulations could affect up to half of China's U.S.-bound exports, but Aaron said he heard \"no talk of retaliation\" from Chinese officials.\u003cbr/\u003eHe explained to them that the beetles, native to China but not North America, threaten to wipe out U.S. hardwood forests.\u003cbr/\u003eAaron said this is an environmental issue, not a trade problem.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"I tried to make the point, and I hope I made the point, that\u003cbr/\u003ethis is not a trade related issue whatsoever. Indeed our concern\u003cbr/\u003eabout the possible trade effects led us to do something that was not\u003cbr/\u003eordinary in these cases. Rather than simply imposing an immediate\u003cbr/\u003equarantine, we have given ninety days.\"\u003cbr/\u003eSUPER CAPTION: David Aaron, U.S. Under Secretary of Commerce.\u003cbr/\u003eMost worrisome for the U.S. side are Chinese moves to throw up new barriers to trade and investment.\u003cbr/\u003eAaron noted that China restricted imports of some power plant equipment in May, is expected to impose price controls on imported medicines next month and may close a loophole that has allowed foreign companies to invest in the restricted telecommunications market.\u003cbr/\u003eAaron predicted that congressional support for normal trade relations would weaken if China did not do more to open its markets.\u003cbr/\u003eThe U.S. Congress votes annually whether or not to renew for China the same low tariffs most other nations receive.\u003cbr/\u003eChinese officials have accused the United States and other countries of making excessive trade demands on a developing country struggling with slowing growth, rising unemployment and market reforms.\u003cbr/\u003e Beijing, China - 23 September 1998 \u003cbr/\u003eAmerican Chamber Commerce Luncheon, Hilton Hotel,\u003cbr/\u003eBeijing\u003cbr/\u003e    1. Wide shot Aaron walking to podium\u003cbr/\u003e    2. Wide panning shot of tables at luncheon\u003cbr/\u003e    3. SOUNDBITE: (English) David Aaron, Under Secretary of Commerce, United States Government\u003cbr/\u003e    4. Wide shot lunch tables\u003cbr/\u003e    5. Cut away people sitting at tables\u003cbr/\u003e    6. SOUNDBITE: (English) David Aaron, Under Secretary of Commerce, United States Government\u003cbr/\u003e    7. Cut away two men sitting in audience\u003cbr/\u003e    8. Close up woman from side\u003cbr/\u003e    9. SOUNDBITE: (English) David Aaron, Under Secretary of Commerce,\u003cbr/\u003eUnited States Government\u003cbr/\u003e    10. Wide shot luncheon\u003cbr/\u003e    11. Cut away man standing, asking question\u003cbr/\u003e    12. SOUNDBITE: (English) David Aaron, Under Secretary of Commerce,\u003cbr/\u003eUnited States Government\u003cbr/\u003e    13. Cut away lunch table\u003cbr/\u003e    September 23, Press Conference, International Club Hotel,\u003cbr/\u003eBeijing, China\u003cbr/\u003e    14. Wide shot press conference\u003cbr/\u003e    15. Close up back of person asking question\u003cbr/\u003e    16. SOUNDBITE: (English) David Aaron, Under Secretary of Commerce,\u003cbr/\u003eUnited States Government\u003cbr/\u003e    17. Cut away journalist sitting at table\u003cbr/\u003e    18. Wide shot podium at presser\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1998\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' 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