Permanent Normal Trade Relations (PNTR) with Russia is all about LEVERAGE
The question is, whose?
Russia’s accession to the World Trade Organization (WTO) was approved last December. This is good news because joining the WTO obliges Russia to further open its market, protect intellectual property, and safeguard foreign investors.
However, the United States won’t get the full benefits of these market-opening reforms unless Congress approves PNTR and graduates Russia from the Jackson-Vanik amendment.
It’s a common mistake to think Jackson-Vanik gives the United States leverage over Russia. On the contrary, keeping Jackson-Vanik on the books gives Russia leverage over the United States: It allows Moscow to deny the benefits of those market-opening reforms to American workers, farmers, and companies —and do so with the WTO’s blessing.
Approval of PNTR and Russia’s graduation from Jackson-Vanik is fully in the U.S. national interest.
Get the facts in the U.S. Chamber’s PNTR Primer:
www.uschamber.com/RussiaPNTR
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