Ways and Means Passes China PNTR

WASHINGTON, D.C. – The United States Chamber of Commerce applauded today's 34 – 4 vote in the Ways and Means Committee in favor of permanent normal trade relations for China (PNTR).

"The benefits of voting 'yes' on PNTR and trade with China are clear," said Chamber President and CEO Tom Donohue. "Lower barriers to China's markets means more exports of American products made by American workers."

The full House is expected to debate and vote next week on the trade agreement with China worked out by the Administration late last year. The Chamber has pushed for Congress to pass the trade agreement and began running radio ads in targeted congressional districts and Washington today.

"Next week's vote is the most important trade vote in a generation," said Donohue. "Congress must not turn their backs on American businesses, workers and farmers that want to compete in China's markets. Without PNTR, America will be forced stay at home and watch while our trade competitors gain the lowered tariffs worked out by U.S. negotiators."

The trade deal with China cuts average industrial tariffs from 35 percent to 10 percent and cuts agriculture tariffs in half by 2004 – boosting U.S. exports by $13 billion in five years, with agricultural exports increasing by $2.2 billion per year, according to administration estimates.

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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