Permanent Normal Trade Relations for China: An Historic Moment for U.S.-China Relations (9/19/00)

Permanent Normal Trade Relations for China: An Historic Moment for U.S.-China Relations

September 19, 2000

The Senate's Passage Of Permanent Normal Trade Relations For China Marks An Historic Moment In U.S.-China Relations. Passage of PNTR by both the House and the Senate marks an historic moment in our pursuit of open markets and stronger U.S.-China relations, and continues to pave the way toward economic freedom for the Chinese people.

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.

China's Accession to the WTO Will Strengthen Our Ability To Ensure Fair Trade And To Protect U.S. Agricultural And Manufacturing Base From Import Surges, Unfair Pricing, And Abusive Investment Practices Such As Offsets Or Forced Technology Transfer. Prior to the negotiation of the U.S.-China accession deal, Democrats and Republicans in Congress raised legitimate concerns about the importance of safeguards against unfair competition. As a result, no agreement on WTO accession has ever contained stronger measures to strengthen guarantees of fair trade and to address practices that distort trade and investment. This agreement addresses those concerns through:

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:


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