THE WHITE HOUSE AT WORK
Monday, April 3, 2000
THE CLINTON-GORE ADMINISTRATION:
ANNOUNCING BROAD NEW SUPPORT FOR
PERMANENT NORMAL TRADE RELATIONS STATUS WITH CHINA
"This vote by Congress is on an agreement that lowers no American trade barriers, lowers no American tariffs, grants no greater access to China to any part of the American economy. On the other hand, Chinese tariffs will fall by more than half over five years in every sector. For the first time, China will agree to play by the same trading rules that we follow. Accordingly, the economic consequences are 100-0 in our favor."
President Bill Clinton
Monday, April 3, 2000
Today, in San Jose, California, President Clinton announced broad new support from the nation's governors and high technology leaders for China's entry into the World Trade Organization. The President restated his belief that China's accession into the WTO will benefit American businesses and workers and will help promote a more open and democratic society in China.
GOVERNORS ANNOUNCE SUPPORT FOR CHINA PNTR VOTE THIS YEAR. More than 40 governors from across the U.S. and its territories sent a letter to senators and members of Congress urging them to vote on and approve Permanent Normal Trade Relations (PNTR) status for China. Noting that China is the world's largest and most important emerging market, the governors stated their belief that China's entry into the WTO, coupled with PNTR status, would open new markets, provide opportunities for American businesses, and create high-wage jobs for American workers. Yet, if we do not hold up our end of the bargain by approving PNTR for China, other countries will reap the benefits of the agreement, leaving the United States sitting on the sidelines.
HIGH-TECH CEOS BACK CHINA PNTR. In another letter to senators and members of Congress, nearly 200 high-technology CEOs called for a favorable vote this year on China PNTR. In the letter, the CEOs called PNTR "an absolute priority" and "the most critical vote you will make in support of our high technology industries this year." The CEOs concluded, "Failure to establish PNTR with China would give our formidable European and Asian competitors a huge advantage in China and threaten America's position as the global leader in the development and deployment of cutting-edge technologies."
A STRONG DEAL IN THE BEST INTERESTS OF AMERICA. China's entry into the WTO and PNTR status with the U.S. will:
- Dramatically cut import barriers currently imposed on American products and services;
- Expand U.S. access to a market of over one billion people;
- Strengthen our ability to ensure fair trade and to protect U.S. agriculture and manufacturing from import surges, unfair pricing, and abusive investment practices; and
- Help promote reform in China and create a safer world.
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