"U.S.-China economic ties have expanded substantially over the past several years. Total U.S.-China trade rose from $5 billion in 1980 to $147 billion in 2002. China is now the fourth-largest U.S. trading partner. With a huge population and a rapidly expanding economy, China is a potentially huge market for U.S. exporters. Yet, U.S.-China commercial relations have been strained by a number of issues, including a surging U.S. trade deficit with China ($102.3 billion in 2002), China's restrictive trade and investment practices, and its failure to provide adequate protection for U.S. intellectual property rights (IPR). […] Many Members of Congress have called on the Bush Administration to closely monitor China's compliance with its WTO [World Trade Organization] commitments. In December 2002, the USTR [U.S. Trade Representative] issued its first annual China WTO compliance report, finding that, although China had made significant progress in meeting its WTO obligations, a number of major problems remained, especially in regards to agriculture, services, IPR protection, and transparency of trade laws and regulations."
CRS Issue Brief for Congress, IB91121
United States. Department of State, Foreign Press Centers, Bureau of Public Affairs: http://www.fpc.state.gov/