Fact Sheet: Permanent normal trade relations for China: An historic moment for U.S.-China relations (10/10/00)

Fact Sheet: Permanent normal trade relations for China: An historic moment for U.S.-China relations (10/10/00)

President Clinton's Signing of Legislation Establishing Permanent Normal Trade Relations For China Marks An Historic Moment In U.S.-China Relations. Establishment of PNTR with China will open markets for U.S. goods and services and strengthen U.S.-China relations, continuing to pave the way toward economic freedom for the Chinese people.

China's Accession Will Help Promote Reform In China And Create A Safer World. China's accession to the WTO will encourage Chinese leaders to move in the direction of meeting the demands of the Chinese people for openness, accountability, and reform. The agreement negotiated last December with China:

China's Entry To The WTO Will Slash Barriers To The Sale Of American Goods And Services In The World?s Most Populous Country. China's entry into the WTO will dramatically cut import barriers currently imposed on American products and services. This agreement locks in and expands our access to a market of over one billion people. China's economy is already among the world?s largest and over the past 20 years has expanded at a phenomenal annual rate of nearly 10 percent. During this period, U.S. exports to China have grown from negligible levels to over $14 billion each year. For agriculture alone, USDA estimates that China's WTO accession would result in $2 billion annually in additional U.S. agricultural exports by 2005.

China Made Unilateral Concessions; We Will Simply Maintain The Market Access Policies We Already Apply To China. China made significant, one-way market-opening concessions across virtually every economic sector, including increasing access to its markets for agriculture, services, technology, telecommunications, and manufactured goods. China also agreed to eliminate unseen barriers, such as exclusive rights to import and distribute goods.


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