Permanent Normal Trading Relations

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Permanent Normal Trading Relations

The term in the United States for most favored nation status. Permanent normal trade relations entitle a country to the lowest possible tariffs that it can assess on another country. For example, if the lowest tariff of the U.S. is 2% of the value of a good, it charges this percentage on an import from a country with which it has permanent normal trading relations.
References in periodicals archive ?
For the United States to be able to engage in free trade with a foreign nation, the status of permanent normal trade relations (PNTR)--or most-favored-nation--has to be granted.
The PNTR bill, in a provision that infuriates Moscow, directs Obama to publish the names of Russians allegedly involved in the abuse and death of Sergei Magnitsky, a Russian anti-corruption lawyer who died in a Russian jail in 2009.
Supporters of PNTR for Russia believe these figures will come into closer balance once the new law goes into effect.
2000 (2000 Act), creating PNTR between the United States and China.
Predictably, the Russians have voiced displeasure with the Magnitsky Act and business leaders hoping for quick passage of PNTR to Russia have urged Sen.
For example, in addressing the PNTR case, he analyzes how President Bill Clinton and his administration, with support from industrial, commercial, and agricultural interest groups, had to fight against the coalition of labor unions (AFL-CIO), human rights groups, and religious organizations to win congressional support to grant China the PNTR position.
By Congress not granting PNTR via repeal of the Jackson-Vanick amendment, the more than 150 other members of the WTO would have access to enhanced Russian market commitments while American producers would not.
Thus, the real problem with PNTR's passage actually centered on the word "Permanent" itself.
(Nasdaq Capital Market: PNTR, Tel-Aviv Stock Exchange: PNTR) - a leading provider of Automatic Vehicle Location (AVL) technology, stolen vehicle retrieval services, fleet management, car & driver safety, public safety, vehicle security, asset management and road side assistance, announces today that SC BCR Asigurari Vienna Insurance Group S.A.
In this light, President Clinton's championing of the North American Free Trade Agreement, the Uruguay Round of GATT, creation of the WTO, and PNTR for China was merely a continuation of his party's commitment to "liberal internationalism."
(Were Vietnam to gain admission to the WTO without achieving PNTR, it would be the only nation in the WTO without that status.) Achieving PNTR will solidify the advantages of trading with Vietnam for U.S.