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PNTRPermanent Normal Trade Relations
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Many Senators will no doubt remember the vigorous debate over PNTR, particularly in the House.
For the United States to share in that growth, we must first pass PNTR. And if we do, American exports to Russia are projected to double in five years," Senate Finance Committee Chairman Max Baucus, a Montana Democrat, said on Wednesday on the Senate floor.
According to WTO rules, Russia is not required to extend to the United States all benefits of its WTO accession package absent PNTR, or unconditional most favored nation (MFN) status, as this reciprocal principle is referred to in international treaties.
"We'll hopefully have an indication of where Congress is regarding Russia soon in the lame duck [Congressional] session if Russia's PNTR status comes up, which they'll have to vote on," Kuchins said.
process, and create permanent normal trade relations (PNTR) with the
112th Congress, Members face the issue of whether to extend PNTR to
fails to terminate Jackson-Vanik as applied to Russia and affirmatively grant Russia unconditional Permanent Normal Trade Relations (PNTR or Most-Favored Nation status), it will be in violation of INTO rules and Russia could deny U.S.
In doing so, he has selected a few specific trade issues as case studies in the book, including: China-US negotiations regarding China's PNTR (Permanent Normal Trade Relations) status with the United States; China's entry into the WTO and its obligations concerning China-US trade; the China-US textile trade disputes; US export control policy toward China; and the strong debate over China's undervalued currency (RMB).
American access to Russia's underdeveloped market and the difficulty in eventually regaining the loss of market share caused by tariffs that currently put American exporters at a disadvantage are important reasons why Congress should grant permanent normal trade relations (PNTR) to the Russian Federation.
The US Congress had to back pedal by agreeing on a PNTR status for China - Permanent Normal Trade Relations.
The passage of Permanent Normal Trading Relations (PNTR) in 2000 not only ended the tedious "linkage" debate and consigned human rights concerns to Washington's policy orphanage, it was intended to foster US.-Chinese economic bonds that would make political conflict increasingly irrelevant.