Frank Underwood doesn’t understand the purpose of the U.S.-China Joint Commission on Commerce and Trade (JCCT).
Maybe you know of Frank Underwood, the main character on the show House of Cards, played by Kevin Spacey. If so, you may remember how he conspired with colleagues in the White House and State Department to orchestrate a trade war with China.
How did he do it? Through the JCCT negotiations.
While Mr. Underwood is commonly known in the United States, it’s much less likely that the average American knows what the JCCT is, aside from it being some way for a fictional administration to create tension with a major U.S. international partner.
Though it isn’t a household term, the importance of the JCCT can’t be overlooked. While Mr. Underwood used the JCCT to start a trade war, the reality is that the United States and China use it to support trade peace – resolving bilateral tensions and exploring areas of mutual cooperation.
The United States and China established the JCCT in 1983 as the primary forum for addressing trade and investment issues, and promoting commercial opportunities between the two countries.
The JCCT has since resulted in significant progress on issues U.S. businesses have identified as priority concerns in China, including:
* protection and enforcement of intellectual property rights;
* government procurement;
* standards, testing, and certifications; and
* issues specific to certain sectors like information technology, energy, and travel and tourism.