Chinese most favored nation trade status
The Senate began consideration of S. 1367, the granting of most-favored-nation trading status to China. In 1979, China was first granted this status, which must be renewed annually by the United President Clinton yesterday began a campaign to renew most favored nation trade status with China. The move comes as no surprise following yet another lobbying blitz of what is now referred to as the China lobby — major corporations like Boeing, Coca-Cola and Motorola. But most favored nation trade Under the Trade Act of 1974, China was designated, alongside the Soviet Union and other socialist states, a non-market economy. As such, it could only be granted MFN status under certain preconditions. In 1980, as relations between the two countries thawed, the U.S. conditionally granted China MFN status. President Clinton Thursday reversed course on China and renewed its trade privileges despite what he said was Beijing's lack of significant progress on human rights. Echoing the case made by George Bush when he was president, Clinton said he was convinced the Chinese would take more steps to improve human rights if the issue were separated from the threat of trade sanctions. The Bush administration has advocated the renewal of most favored nation trade status for China, which would open up normalized trade relations between the U.S. and China, on the basis of the necessary trade with the economic giant. Gephardt has consistently opposed Clinton on China's most-favored-nation status, only to lose when the contentious issues comes to a vote. Most Favoured Nation status is given to an international trade partner to ensure non-discriminatory trade between all partner countries of the WTO. A country which provides MFN status to another country has to provide concessions, privileges, and immunity in trade agreements.
The United States first granted China most-favored-nation (MFN) status in 1980, which made trading with China more attractive by lowering tariffs on goods imported to the United States. The status was subject to annual renewal. After Tiananmen, negotiating MFN status became a “political football,” Brecher says.
The United States gave Most Favored Nation status to China in 2000. Soon afterward, it helped the country become a WTO member. U.S. companies wanted to sell to the largest population in the world. As China's GDP per capita grew, so would its consumer spending. The Senate began consideration of S. 1367, the granting of most-favored-nation trading status to China. In 1979, China was first granted this status, which must be renewed annually by the United President Clinton yesterday began a campaign to renew most favored nation trade status with China. The move comes as no surprise following yet another lobbying blitz of what is now referred to as the China lobby — major corporations like Boeing, Coca-Cola and Motorola. But most favored nation trade Under the Trade Act of 1974, China was designated, alongside the Soviet Union and other socialist states, a non-market economy. As such, it could only be granted MFN status under certain preconditions. In 1980, as relations between the two countries thawed, the U.S. conditionally granted China MFN status. President Clinton Thursday reversed course on China and renewed its trade privileges despite what he said was Beijing's lack of significant progress on human rights. Echoing the case made by George Bush when he was president, Clinton said he was convinced the Chinese would take more steps to improve human rights if the issue were separated from the threat of trade sanctions.
Most Favoured Nation status is given to an international trade partner to ensure non-discriminatory trade between all partner countries of the WTO. A country which provides MFN status to another country has to provide concessions, privileges, and immunity in trade agreements.
The Senate began consideration of S. 1367, the granting of most-favored-nation trading status to China. In 1979, China was first granted this status, which must be renewed annually by the United President Clinton yesterday began a campaign to renew most favored nation trade status with China. The move comes as no surprise following yet another lobbying blitz of what is now referred to as the China lobby — major corporations like Boeing, Coca-Cola and Motorola. But most favored nation trade Under the Trade Act of 1974, China was designated, alongside the Soviet Union and other socialist states, a non-market economy. As such, it could only be granted MFN status under certain preconditions. In 1980, as relations between the two countries thawed, the U.S. conditionally granted China MFN status. President Clinton Thursday reversed course on China and renewed its trade privileges despite what he said was Beijing's lack of significant progress on human rights. Echoing the case made by George Bush when he was president, Clinton said he was convinced the Chinese would take more steps to improve human rights if the issue were separated from the threat of trade sanctions. The Bush administration has advocated the renewal of most favored nation trade status for China, which would open up normalized trade relations between the U.S. and China, on the basis of the necessary trade with the economic giant. Gephardt has consistently opposed Clinton on China's most-favored-nation status, only to lose when the contentious issues comes to a vote. Most Favoured Nation status is given to an international trade partner to ensure non-discriminatory trade between all partner countries of the WTO. A country which provides MFN status to another country has to provide concessions, privileges, and immunity in trade agreements.
The United States gave Most Favored Nation status to China in 2000. Soon afterward, it helped the country become a WTO member. U.S. companies wanted to sell to the largest population in the world. As China's GDP per capita grew, so would its consumer spending.
Gephardt has consistently opposed Clinton on China's most-favored-nation status, only to lose when the contentious issues comes to a vote. Most Favoured Nation status is given to an international trade partner to ensure non-discriminatory trade between all partner countries of the WTO. A country which provides MFN status to another country has to provide concessions, privileges, and immunity in trade agreements. A most-favored-nation (MFN) clause requires a country to provide any concessions, privileges, or immunities granted to one nation in a trade agreement to all other World Trade Organization member countries. Although its name implies favoritism toward another nation, it denotes the equal treatment of all countries.
Gephardt has consistently opposed Clinton on China's most-favored-nation status, only to lose when the contentious issues comes to a vote.
Under the Trade Act of 1974, China was designated, alongside the Soviet Union and other socialist states, a non-market economy. As such, it could only be granted MFN status under certain preconditions. In 1980, as relations between the two countries thawed, the U.S. conditionally granted China MFN status. President Clinton Thursday reversed course on China and renewed its trade privileges despite what he said was Beijing's lack of significant progress on human rights. Echoing the case made by George Bush when he was president, Clinton said he was convinced the Chinese would take more steps to improve human rights if the issue were separated from the threat of trade sanctions. The Bush administration has advocated the renewal of most favored nation trade status for China, which would open up normalized trade relations between the U.S. and China, on the basis of the necessary trade with the economic giant. Gephardt has consistently opposed Clinton on China's most-favored-nation status, only to lose when the contentious issues comes to a vote. Most Favoured Nation status is given to an international trade partner to ensure non-discriminatory trade between all partner countries of the WTO. A country which provides MFN status to another country has to provide concessions, privileges, and immunity in trade agreements.
The Bush administration has advocated the renewal of most favored nation trade status for China, which would open up normalized trade relations between the U.S. and China, on the basis of the necessary trade with the economic giant.