Question
Economy > Globalization > Free Trade Agreement
The next President should have voted in favor of granting Permanent Normal Trading Relations to China
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330 votes for this question.
Background
Permanent Normal Trade Relations (PNTR) status is a legal designation in the United States for free trade with a foreign nation. In the U.S. the name was changed from Most Favored Nation (MFN) to PNTR in 1998. For many years, People's Republic of China was the most important country in this group which required an annual waiver to maintain free trade status. The waiver for the PRC had been in effect since 1980. Every year between 1989 and 1999, legislation was introduced in Congress to disapprove the President's waiver.
The legislation had sought to tie free trade with China to meeting certain human rights conditions that go beyond freedom of emigration. All such attempted legislation failed to pass. The requirement of an annual waiver was inconsistent with the rules of the World Trade Organization, and for the PRC to join the WTO, Congressional action was needed to grant PNTR to the PRC. This was accomplished in late-1999, allowing the PRC to join WTO in the following year.
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The legislation had sought to tie free trade with China to meeting certain human rights conditions that go beyond freedom of emigration. All such attempted legislation failed to pass. The requirement of an annual waiver was inconsistent with the rules of the World Trade Organization, and for the PRC to join the WTO, Congressional action was needed to grant PNTR to the PRC. This was accomplished in late-1999, allowing the PRC to join WTO in the following year.
see more on Wikipedia
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