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.
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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.
In testimony before Congress in April 2000, he strongly urged that China be granted permanent normal trade relations. "The failure of the U.S.
USTR Susan Schwab said: "We now call upon Congress to quickly pass Permanent Normal Trade Relations legislation that will permit US businesses, workers and consumers to benefit fully from Vietnam's accession." Another issue that Vietnam will want addressed is its recognition as a 'free-market' country by other WTO members.
The fellow sitting next to me furrowed his brow as if I had said something obscene and hissed, "In case you haven't noticed, Cuba is communist." I responded that, in case he hadn't noticed, "so are China and Vietnam"--two countries with which we are now positioning ourselves for permanent normal trade relations.
If I had to pick one project that taught me the most, I managed the campaign for the Permanent Normal Trade Relations program for China.
The Agriculture Coalition for U.S.-Vietnam Trade, which includes 31 food and agriculture organizations, last week sent a letter to Congress urging lawmakers to approve Permanent Normal Trade Relations with Vietnam so that U.S.
Congress must repeal permanent normal trade relations with China and develop trade policies that protect good paying jobs in America, he says.
Speaker, international trade is a good thing, if implemented properly, but the evidence is overwhelming that our current trade policies, including NAFTA, including permanent normal trade relations with China, and the current roles of the WTO are not working for average Americans, they are not working for the environment, and they are not working for human rights.
Interestingly, since I recently introduced legislation to repeal Permanent Normal Trade Relations (PNTR) with China, fifteen conservative Republicans have joined forty-two Democrats as co-sponsors.
Section 421 was added to the Trade Act of 1974 through the U.S.-China Relations Act of 2000, which established permanent normal trade relations with China and paved the way for its accession to the World Trade Organization.
In 2000, the Clinton administration was able to win congressional approval for permanent normal trade relations (PNTR) with China.

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