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The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign state. The designation was changed from most favored nation (MFN) to normal trade relations by Section 5003 of the Internal Revenue Service Restructuring and Reform Act of 1998.
The U.S.–China Relations Act of 2000 is an Act of the United States Congress that granted China permanent normal trade relations (NTR) status (previously called most favoured nation (MFN)) when China becomes a full member of the World Trade Organization (WTO), ending annual review and approval of NTR.
Legislation to revoke China’s Permanent Normal Trade Relations was introduced Thursday by a bipartisan pair of House lawmakers, building on a Republican effort last year to repeal Beijing’s ...
WASHINGTON (Reuters) -U.S. lawmakers introduced a bipartisan bill on Thursday that would revoke China's preferential trade status with the United States, phase in steep tariffs and end the "de ...
Today, building on tariffs from the Trump and Biden Administrations, the Restoring Trade Fairness Act will strip China of its permanent normal trade relations with the U.S., protect our national ...
The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign state. The designation was changed from most favored nation (MFN) to normal trade relations by Section 5003 of the Internal Revenue Service Restructuring and Reform Act of 1998.
"Removing Permanent Normal Trade Relations with China is a very radical and extreme step that would remove any guardrails against a trade war," Shirk said. "It will be pretty chaotic."
Permanent normal trade relations can have been extended to such country only if the president determined that it complies with the freedom of emigration requirements. However, the president had authority to grant an annual waiver, which was granted to the People's Republic of China in the late 1970s and to Vietnam and Laos in later decades.